Huntington National Bank Has $160,000 Position in Mplx Lp (NYSE:MPLX)

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

A number of other institutional investors have also added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its holdings in Mplx by 2.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock valued at $631,435,000 after buying an additional 353,324 shares during the period. Chickasaw Capital Management LLC increased its stake in Mplx by 0.6% in the third quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company’s stock valued at $248,089,000 after acquiring an additional 34,659 shares during the period. Energy Income Partners LLC raised its position in Mplx by 5.1% in the first quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock worth $217,148,000 after purchasing an additional 255,211 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Mplx by 4.0% during the first quarter. Clearbridge Investments LLC now owns 5,200,759 shares of the pipeline company’s stock worth $216,144,000 after purchasing an additional 201,500 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its stake in Mplx by 7.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,571,817 shares of the pipeline company’s stock valued at $109,534,000 after buying an additional 186,084 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on MPLX shares. Bank of America assumed coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. Royal Bank of Canada increased their price target on Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays lifted their price objective on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. UBS Group increased their target price on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company lifted their price target on Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.44.

Mplx Stock Performance

Mplx stock opened at $47.02 on Monday. Mplx Lp has a 1 year low of $35.31 and a 1 year high of $47.62. The company’s 50-day moving average is $44.51 and its two-hundred day moving average is $42.73. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The company has a market cap of $47.99 billion, a PE ratio of 11.09, a PEG ratio of 1.28 and a beta of 1.37.

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

Mplx Increases Dividend

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

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.