Oxbow Advisors LLC Has $17.11 Million Stock Holdings in Mplx Lp (NYSE:MPLX)

Oxbow Advisors LLC grew its stake in Mplx Lp (NYSE:MPLX) by 33.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 401,696 shares of the pipeline company’s stock after purchasing an additional 100,853 shares during the quarter. Mplx makes up about 2.0% of Oxbow Advisors LLC’s holdings, making the stock its 9th largest position. Oxbow Advisors LLC’s holdings in Mplx were worth $17,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mcdonald Partners LLC boosted its holdings in Mplx by 1.4% during the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock worth $732,000 after purchasing an additional 239 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Mplx by 10.4% in the 2nd quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock worth $127,000 after buying an additional 282 shares during the last quarter. Belfer Management LLC grew its holdings in shares of Mplx by 4.4% in the first quarter. Belfer Management LLC now owns 7,733 shares of the pipeline company’s stock valued at $321,000 after acquiring an additional 325 shares in the last quarter. Prossimo Advisors LLC increased its position in shares of Mplx by 6.3% during the second quarter. Prossimo Advisors LLC now owns 6,509 shares of the pipeline company’s stock valued at $277,000 after acquiring an additional 386 shares during the last quarter. Finally, Linscomb & Williams Inc. lifted its holdings in Mplx by 2.5% during the fourth quarter. Linscomb & Williams Inc. now owns 15,948 shares of the pipeline company’s stock worth $586,000 after acquiring an additional 389 shares during the period. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Price Performance

NYSE MPLX traded down $0.34 during trading on Friday, reaching $42.62. The company’s stock had a trading volume of 1,772,502 shares, compared to its average volume of 1,944,398. The firm has a fifty day moving average of $42.34 and a 200 day moving average of $41.37. Mplx Lp has a one year low of $34.52 and a one year high of $43.42. The stock has a market capitalization of $43.31 billion, a PE ratio of 10.98, a P/E/G ratio of 1.19 and a beta of 1.37. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.17. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the prior year, the business earned $0.91 earnings per share. Mplx’s revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts expect that Mplx Lp will post 4.24 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.98%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio (DPR) is currently 87.63%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Barclays raised their price objective on shares of Mplx from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price objective on shares of Mplx in a report on Wednesday, August 28th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mplx presently has an average rating of “Buy” and an average price target of $46.33.

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.