M&T Bank Corp Sells 2,000 Shares of Mplx Lp (NYSE:MPLX)

M&T Bank Corp reduced its stake in shares of Mplx Lp (NYSE:MPLX) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,494 shares of the pipeline company’s stock after selling 2,000 shares during the quarter. M&T Bank Corp’s holdings in Mplx were worth $2,082,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. ING Groep NV grew its stake in shares of Mplx by 69.8% during the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after buying an additional 2,725,000 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Mplx by 0.8% during the third quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company’s stock valued at $255,003,000 after buying an additional 45,271 shares during the last quarter. Duff & Phelps Investment Management Co. grew its stake in shares of Mplx by 4.9% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,933,486 shares of the pipeline company’s stock valued at $85,963,000 after buying an additional 90,793 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Mplx by 1.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,568,200 shares of the pipeline company’s stock valued at $75,054,000 after buying an additional 17,900 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Mplx by 0.5% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,506,962 shares of the pipeline company’s stock valued at $72,123,000 after buying an additional 8,166 shares during the last quarter. 24.25% of the stock is owned by institutional investors.

Mplx Stock Up 0.6 %

Mplx stock opened at $52.65 on Monday. The business has a fifty day moving average of $51.66 and a two-hundred day moving average of $47.74. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The firm has a market cap of $53.64 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.69 and a beta of 1.40. Mplx Lp has a twelve month low of $39.56 and a twelve month high of $54.79.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. Mplx’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.9565 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a yield of 7.27%. Mplx’s dividend payout ratio is currently 90.74%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group upped their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Truist Financial upped their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their price target on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Raymond James boosted their price target on Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Barclays boosted their price target on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.