Mplx Lp (NYSE:MPLX) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance increased its holdings in Mplx Lp (NYSE:MPLX) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,485 shares of the pipeline company’s stock after buying an additional 408 shares during the quarter. Independent Advisor Alliance’s holdings in Mplx were worth $3,089,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ING Groep NV boosted its position in Mplx by 69.8% in the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after purchasing an additional 2,725,000 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in Mplx by 4,274.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 811,371 shares of the pipeline company’s stock worth $346,000 after purchasing an additional 792,822 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position 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 worth $631,435,000 after purchasing an additional 353,324 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Mplx by 17.0% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock worth $66,636,000 after purchasing an additional 217,674 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Mplx in the 3rd quarter worth approximately $8,644,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Trading Down 0.8 %

Shares of MPLX stock opened at $49.09 on Tuesday. The stock’s fifty day moving average is $45.12 and its two-hundred day moving average is $43.01. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market capitalization of $50.01 billion, a P/E ratio of 11.58, a PEG ratio of 2.89 and a beta of 1.37. Mplx Lp has a fifty-two week low of $35.51 and a fifty-two week high of $49.88.

Mplx (NYSE:MPLX) last issued its earnings results 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). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business earned $0.89 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Research analysts expect that Mplx Lp will post 4.26 earnings per share for the current fiscal 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 paid a $0.9565 dividend. The ex-dividend date was Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.79%. Mplx’s dividend payout ratio (DPR) is 90.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group increased their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America assumed coverage on Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price on the stock. Wells Fargo & Company increased their target price on Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, Truist Financial increased their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Mplx presently has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Insiders Place Their Bets

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.