Robertson Stephens Wealth Management LLC Buys 3,139 Shares of Mplx Lp (NYSE:MPLX)

Robertson Stephens Wealth Management LLC raised its stake in shares of Mplx Lp (NYSE:MPLX) by 37.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 11,532 shares of the pipeline company’s stock after purchasing an additional 3,139 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Mplx were worth $552,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MPLX. ING Groep NV increased its stake in 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 acquiring an additional 2,725,000 shares during the period. FMR LLC increased its stake in Mplx by 387.4% in the third quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock valued at $36,611,000 after acquiring an additional 654,500 shares during the period. 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 acquiring an additional 217,674 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Mplx in the third quarter valued at about $8,644,000. Finally, Walnut Private Equity Partners LLC increased its stake in Mplx by 479.6% in the fourth quarter. Walnut Private Equity Partners LLC now owns 153,600 shares of the pipeline company’s stock valued at $7,351,000 after acquiring an additional 127,100 shares during the period. Institutional investors own 24.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MPLX shares. Wells Fargo & Company upped their price objective on shares of Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Bank of America started coverage on shares of Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. Truist Financial upped their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Barclays upped their price objective on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and an average price target of $52.11.

Insider Activity at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the 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 transaction, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Mplx Price Performance

Shares of MPLX stock opened at $53.20 on Friday. Mplx Lp has a 1 year low of $37.58 and a 1 year high of $54.18. The firm’s 50 day moving average is $49.62 and its 200-day moving average is $46.02. The firm has a market capitalization of $54.20 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.33 and a beta of 1.42. 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 earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the business earned $1.10 earnings per share. Mplx’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $0.9565 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.83 annualized dividend and a yield of 7.19%. Mplx’s dividend payout ratio is currently 90.33%.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.