Brookfield Corp ON Lowers Holdings in Mplx Lp (NYSE:MPLX)

Brookfield Corp ON lowered its holdings in shares of Mplx Lp (NYSE:MPLX) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,141,816 shares of the pipeline company’s stock after selling 47,114 shares during the quarter. Mplx makes up 1.0% of Brookfield Corp ON’s portfolio, making the stock its 15th biggest holding. Brookfield Corp ON’s holdings in Mplx were worth $184,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MPLX. CWM LLC boosted its stake in Mplx by 73.3% during the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares during the last quarter. Summit Securities Group LLC grew its stake in shares of Mplx by 450.0% in the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after buying an additional 900 shares in the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of Mplx during the 3rd quarter valued at about $51,000. Redwood Wealth Management Group LLC purchased a new position in Mplx in the second quarter worth about $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Mplx during the 2nd quarter valued at $88,000. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Performance

Shares of Mplx stock opened at $49.01 on Friday. The firm has a market capitalization of $49.93 billion, a P/E ratio of 11.56, a PEG ratio of 2.95 and a beta of 1.42. Mplx Lp has a 52 week low of $35.51 and a 52 week high of $51.94. 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 company has a 50 day moving average price of $46.09 and a 200 day moving average price of $43.52.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Mplx Lp will post 4.17 EPS for the current year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.9565 per share. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a yield of 7.81%. The ex-dividend date was Friday, November 8th. Mplx’s dividend payout ratio (DPR) is currently 90.33%.

Insider Activity at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the sale, the vice president now directly owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MPLX shares. Bank of America started coverage on Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. Barclays increased their price objective on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd. Finally, Truist Financial raised their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

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.