Mplx Lp (NYSE:MPLX) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA boosted its stake in shares of Mplx Lp (NYSE:MPLX) by 7.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 149,509 shares of the pipeline company’s stock after acquiring an additional 10,000 shares during the period. Glenmede Trust Co. NA’s holdings in Mplx were worth $6,647,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. ING Groep NV boosted its position in shares of Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after acquiring an additional 2,725,000 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Mplx by 4,274.2% during 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. FMR LLC boosted its position in Mplx by 387.4% during the third quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock worth $36,611,000 after purchasing an additional 654,500 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of Mplx by 2.4% in the second 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 acquiring an additional 353,324 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Mplx by 17.0% during the third 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 during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Insider Buying and Selling at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were 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 approximately $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Mplx Trading Up 2.2 %

Mplx stock opened at $51.66 on Friday. Mplx Lp has a 52 week low of $35.51 and a 52 week high of $51.94. The business’s 50-day simple moving average is $45.65 and its 200-day simple moving average is $43.25. The firm has a market capitalization of $52.63 billion, a PE ratio of 12.18, a PEG ratio of 2.95 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. Equities research analysts forecast that Mplx Lp will post 4.26 earnings per share for the current year.

Mplx Increases Dividend

The firm 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 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 yield of 7.41%. Mplx’s payout ratio is currently 90.09%.

Analyst Ratings Changes

MPLX has been the subject of a number of research reports. Bank of America started coverage on Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 22nd. 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 research report on Tuesday, November 19th. Wells Fargo & Company raised their price target on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price target on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.44.

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.