Claro Advisors LLC Sells 629 Shares of Mplx Lp (NYSE:MPLX)

Claro Advisors LLC trimmed its holdings in shares of Mplx Lp (NYSE:MPLX) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,253 shares of the pipeline company’s stock after selling 629 shares during the period. Claro Advisors LLC’s holdings in Mplx were worth $218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Citigroup Inc. raised its stake in shares of Mplx by 60.6% during the third quarter. Citigroup Inc. now owns 2,028,514 shares of the pipeline company’s stock worth $72,154,000 after buying an additional 765,618 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Mplx by 170.6% during the fourth quarter. Allianz Asset Management GmbH now owns 637,100 shares of the pipeline company’s stock valued at $23,394,000 after purchasing an additional 401,700 shares during the period. Pingora Partners LLC acquired a new position in Mplx during the fourth quarter valued at approximately $1,253,000. Miller Howard Investments Inc. NY grew its holdings in Mplx by 2.8% during the fourth quarter. Miller Howard Investments Inc. NY now owns 2,362,999 shares of the pipeline company’s stock valued at $86,769,000 after purchasing an additional 65,380 shares during the period. Finally, Capital Advisors Inc. OK acquired a new position in Mplx during the fourth quarter valued at approximately $2,878,000. 24.25% of the stock is owned by institutional investors.

Mplx Stock Performance

Shares of MPLX opened at $42.87 on Tuesday. Mplx Lp has a 12 month low of $33.86 and a 12 month high of $43.00. The firm has a fifty day simple moving average of $41.16 and a 200 day simple moving average of $39.66. The stock has a market capitalization of $43.56 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 2.13 and a beta of 1.37. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts forecast that Mplx Lp will post 4.01 EPS for the current fiscal 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 issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.93%. The ex-dividend date of this dividend was Thursday, May 2nd. Mplx’s payout ratio is 87.63%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MPLX shares. Stifel Nicolaus boosted their price objective on shares of Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Truist Financial boosted 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. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Barclays upped their price target on shares of Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, UBS Group upped their price target on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.11.

About Mplx

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.