Icon Wealth Advisors LLC Boosts Stake in Mplx Lp (NYSE:MPLX)

Icon Wealth Advisors LLC boosted its holdings in Mplx Lp (NYSE:MPLX) by 62.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,688 shares of the pipeline company’s stock after acquiring an additional 4,474 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Mplx were worth $520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MPLX. Mcdonald Partners LLC grew its stake in shares of Mplx by 1.4% during the 2nd quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock worth $732,000 after purchasing an additional 239 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in Mplx by 1.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock worth $876,000 after buying an additional 268 shares in the last quarter. Cherry Creek Investment Advisors Inc. grew its position in Mplx by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock worth $632,000 after buying an additional 279 shares during the period. Sound Income Strategies LLC increased its holdings in Mplx by 10.4% in the second quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock valued at $127,000 after buying an additional 282 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in shares of Mplx by 3.9% during the 3rd quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock valued at $396,000 after acquiring an additional 338 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Price Performance

NYSE:MPLX opened at $49.50 on Friday. Mplx Lp has a 12-month low of $35.51 and a 12-month high of $49.54. The firm has a market cap of $50.43 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 2.82 and a beta of 1.37. The company’s 50-day moving average is $45.02 and its two-hundred day moving average is $42.95. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40.

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 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 period in the previous year, the company posted $0.89 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts expect that Mplx Lp will post 4.26 EPS for the current year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.9565 per share. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.73%. Mplx’s dividend payout ratio (DPR) is 90.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Truist Financial raised their price target on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company boosted their price objective on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Barclays upped their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Insider Activity

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.