Mplx Lp (NYSE:MPLX) Shares Purchased by Caprock Group LLC

Caprock Group LLC boosted its stake in Mplx Lp (NYSE:MPLX) by 29.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,525 shares of the pipeline company’s stock after buying an additional 5,624 shares during the quarter. Caprock Group LLC’s holdings in Mplx were worth $1,090,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MPLX. ING Groep NV raised its position in shares of Mplx by 69.8% in the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after buying an additional 2,725,000 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings 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 valued at $346,000 after acquiring an additional 792,822 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Mplx by 2.4% during the second 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 during the last quarter. Energy Income Partners LLC boosted its holdings in shares of Mplx by 5.1% during 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 during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Mplx by 17.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock valued at $66,636,000 after purchasing an additional 217,674 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MPLX. Royal Bank of Canada lifted their price target on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday. Barclays upped their price target on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. UBS Group lifted their price target on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. Truist Financial upped their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Bank of America began coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price on the stock. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Price Performance

Shares of NYSE MPLX opened at $48.27 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 1-year low of $35.51 and a 1-year high of $48.49. The company has a market capitalization of $49.18 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.30 and a beta of 1.37. The business has a 50-day moving average of $44.90 and a 200-day moving average of $42.89.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 EPS. On average, equities analysts anticipate that Mplx Lp will post 4.31 EPS for the current fiscal year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.93%. This is a positive change from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s dividend payout ratio (DPR) is presently 90.33%.

Insider Buying and Selling

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’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 owns 14,750 shares in the company, valued at $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 is available through the SEC website.

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.