Fort Washington Investment Advisors Inc. OH Decreases Holdings in Mplx Lp (NYSE:MPLX)

Fort Washington Investment Advisors Inc. OH decreased its holdings in Mplx Lp (NYSE:MPLX) by 12.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,756 shares of the pipeline company’s stock after selling 7,369 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Mplx were worth $2,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MPLX. Atria Wealth Solutions Inc. lifted its stake in Mplx by 21.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 32,659 shares of the pipeline company’s stock worth $1,199,000 after purchasing an additional 5,743 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Mplx by 9.6% during the 4th quarter. Van ECK Associates Corp now owns 56,045 shares of the pipeline company’s stock worth $2,058,000 after acquiring an additional 4,907 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Mplx by 4.3% during the 4th quarter. Savant Capital LLC now owns 14,020 shares of the pipeline company’s stock worth $515,000 after acquiring an additional 581 shares during the last quarter. SouthState Corp purchased a new position in Mplx during the 4th quarter valued at $51,000. Finally, FourThought Financial Partners LLC grew its position in Mplx by 12.4% in the 4th quarter. FourThought Financial Partners LLC now owns 35,003 shares of the pipeline company’s stock valued at $1,285,000 after acquiring an additional 3,867 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Stock Performance

Shares of MPLX traded up $0.14 during trading hours on Friday, reaching $42.89. 1,072,375 shares of the company traded hands, compared to its average volume of 1,961,783. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The business has a fifty day moving average price of $42.32 and a 200-day moving average price of $41.23. Mplx Lp has a 12-month low of $34.47 and a 12-month high of $43.42. The stock has a market capitalization of $43.58 billion, a P/E ratio of 11.05, a P/E/G ratio of 2.13 and a beta of 1.37.

Mplx (NYSE:MPLX) last issued its quarterly earnings results 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 34.96% and a return on equity of 31.70%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Mplx’s quarterly revenue was up 13.5% on a year-over-year basis. Equities analysts anticipate that Mplx Lp will post 4.02 EPS for the current fiscal year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s payout ratio is presently 87.63%.

Wall Street Analyst Weigh In

MPLX has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Barclays raised their price objective on Mplx from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Truist Financial upped their target price on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 11th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Mplx has an average rating of “Buy” and an average price target of $46.33.

Mplx Company 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.