Huntington National Bank Sells 650 Shares of Mplx Lp (NYSE:MPLX)

Huntington National Bank cut its holdings in shares of Mplx Lp (NYSE:MPLX) by 15.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,600 shares of the pipeline company’s stock after selling 650 shares during the period. Huntington National Bank’s holdings in Mplx were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sei Investments Co. boosted its stake in Mplx by 47.4% in the 1st quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock worth $2,150,000 after purchasing an additional 16,637 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Mplx by 79.7% during the first quarter. Acadian Asset Management LLC now owns 252,194 shares of the pipeline company’s stock worth $10,477,000 after buying an additional 111,826 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Mplx by 11.6% during the first quarter. Bahl & Gaynor Inc. now owns 10,600 shares of the pipeline company’s stock worth $441,000 after buying an additional 1,100 shares in the last quarter. Clearbridge Investments LLC raised its position in Mplx by 4.0% in the 1st quarter. Clearbridge Investments LLC now owns 5,200,759 shares of the pipeline company’s stock valued at $216,144,000 after buying an additional 201,500 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in Mplx in the 1st quarter valued at approximately $301,000. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Performance

NYSE MPLX opened at $47.02 on Monday. Mplx Lp has a 52-week low of $35.31 and a 52-week high of $47.62. The stock has a market cap of $47.99 billion, a PE ratio of 11.09, a P/E/G ratio of 1.28 and a beta of 1.37. The firm has a 50-day moving average of $44.51 and a 200-day moving average of $42.73. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. Mplx’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. On average, sell-side analysts anticipate that Mplx Lp will post 4.31 EPS for the current year.

Mplx Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.9565 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.14%. This is an increase from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is currently 90.33%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MPLX shares. Royal Bank of Canada lifted their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays lifted their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price objective on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Bank of America initiated coverage on Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price on the stock. Finally, StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.44.

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.