MAI Capital Management Increases Position in Mplx Lp (NYSE:MPLX)

MAI Capital Management grew its holdings in Mplx Lp (NYSE:MPLX) by 3.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 54,350 shares of the pipeline company’s stock after acquiring an additional 1,622 shares during the quarter. MAI Capital Management’s holdings in Mplx were worth $2,416,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kayne Anderson Capital Advisors LP raised its holdings in shares of Mplx by 0.8% in the third quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company’s stock valued at $255,003,000 after buying an additional 45,271 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Mplx by 13.5% in the third quarter. Mutual of America Capital Management LLC now owns 48,333 shares of the pipeline company’s stock valued at $2,149,000 after buying an additional 5,766 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Mplx by 1.4% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock valued at $876,000 after buying an additional 268 shares during the last quarter. ING Groep NV raised its holdings 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. Finally, Curi RMB Capital LLC raised its holdings in shares of Mplx by 2.6% in the third quarter. Curi RMB Capital LLC now owns 25,095 shares of the pipeline company’s stock valued at $1,116,000 after buying an additional 639 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 14th. UBS Group increased their price target on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company increased their price target on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Truist Financial increased their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada increased their price target on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Stock Up 0.4 %

MPLX stock opened at $47.66 on Wednesday. The company’s 50 day simple moving average is $44.71 and its 200-day simple moving average is $42.82. The firm has a market capitalization of $48.56 billion, a PE ratio of 11.24, a P/E/G ratio of 1.28 and a beta of 1.37. Mplx Lp has a 12 month low of $35.51 and a 12 month high of $47.71. 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 (NYSE:MPLX) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share. Equities analysts expect that Mplx Lp will post 4.31 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.9565 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 8.03%. Mplx’s dividend payout ratio is currently 90.33%.

Mplx 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.