Neuberger Berman Group LLC Has $7.01 Million Stock Holdings in Mplx Lp (NYSE:MPLX)

Neuberger Berman Group LLC raised its position in shares of Mplx Lp (NYSE:MPLX) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,797 shares of the pipeline company’s stock after purchasing an additional 6,508 shares during the period. Neuberger Berman Group LLC’s holdings in Mplx were worth $7,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Mplx by 4.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 41,892 shares of the pipeline company’s stock worth $1,538,000 after buying an additional 1,768 shares in the last quarter. Balboa Wealth Partners bought a new position in shares of Mplx in the fourth quarter worth about $217,000. Wells Fargo & Company MN boosted its stake in shares of Mplx by 8.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,163,715 shares of the pipeline company’s stock valued at $42,732,000 after purchasing an additional 93,787 shares in the last quarter. ING Groep NV grew its holdings in shares of Mplx by 21.2% during the 4th quarter. ING Groep NV now owns 2,740,500 shares of the pipeline company’s stock valued at $100,631,000 after purchasing an additional 480,000 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its position in Mplx by 3.8% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 17,741 shares of the pipeline company’s stock worth $651,000 after purchasing an additional 642 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Trading Down 0.1 %

Mplx stock traded down $0.03 during mid-day trading on Friday, hitting $40.21. 1,998,034 shares of the stock were exchanged, compared to its average volume of 2,202,192. The firm’s fifty day simple moving average is $41.09 and its two-hundred day simple moving average is $38.71. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. Mplx Lp has a 12 month low of $33.12 and a 12 month high of $42.90. The stock has a market capitalization of $40.86 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 2.01 and a beta of 1.35.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. Mplx’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. Analysts forecast that Mplx Lp will post 4.01 EPS for the current year.

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 2nd. This represents a $3.40 annualized dividend and a dividend yield of 8.46%. Mplx’s payout ratio is 87.63%.

Wall Street Analysts Forecast Growth

MPLX has been the topic of a number of research analyst reports. Royal Bank of Canada raised their target price on shares of Mplx from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Barclays boosted their price objective on Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Raymond James increased their target price on Mplx from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. UBS Group boosted their price target on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Truist Financial raised their price objective on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.11.

Mplx Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.