MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 300,321 Shares of Mplx Lp $MPLX

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Mplx Lp (NYSE:MPLX) by 4.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,060,024 shares of the pipeline company’s stock after purchasing an additional 300,321 shares during the period. Mplx makes up approximately 0.6% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings, making the stock its 27th largest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Mplx were worth $352,648,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MPLX. Bank of America Corp DE increased its position in shares of Mplx by 8.3% during the 2nd quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after purchasing an additional 757,569 shares during the last quarter. Natixis raised its holdings in shares of Mplx by 1,585.3% during the 2nd quarter. Natixis now owns 403,758 shares of the pipeline company’s stock valued at $20,798,000 after buying an additional 379,800 shares in the last quarter. Merewether Investment Management LP bought a new stake in Mplx in the 2nd quarter worth approximately $16,988,000. Alps Advisors Inc. boosted its stake in Mplx by 1.2% in the third quarter. Alps Advisors Inc. now owns 26,409,654 shares of the pipeline company’s stock worth $1,319,162,000 after buying an additional 325,451 shares in the last quarter. Finally, Energy Income Partners LLC boosted its stake in Mplx by 4.5% in the second quarter. Energy Income Partners LLC now owns 5,541,795 shares of the pipeline company’s stock worth $285,458,000 after buying an additional 236,932 shares in the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Performance

NYSE:MPLX opened at $58.10 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.23. Mplx Lp has a fifty-two week low of $44.60 and a fifty-two week high of $59.84. The firm has a market cap of $58.98 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 5.32 and a beta of 0.56. The business has a 50 day moving average price of $56.51 and a 200-day moving average price of $53.49.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.10 by $0.07. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a $1.0765 dividend. The ex-dividend date was Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.4%. Mplx’s payout ratio is presently 89.42%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Mplx from a “buy” rating to a “hold” rating in a research note on Sunday. Royal Bank Of Canada increased their target price on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, November 21st. UBS Group increased their target price on shares of Mplx from $64.00 to $73.00 and gave the company a “buy” rating in a report on Monday. Raymond James Financial cut shares of Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.88.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.