Mplx Lp (NYSE:MPLX) Holdings Raised by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC grew its stake in shares of Mplx Lp (NYSE:MPLX) by 14.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,052 shares of the pipeline company’s stock after acquiring an additional 3,294 shares during the period. Pathway Financial Advisers LLC’s holdings in Mplx were worth $1,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Strategic Financial Concepts LLC grew its stake in Mplx by 4,274.2% in the second quarter. Strategic Financial Concepts LLC now owns 811,371 shares of the pipeline company’s stock valued at $346,000 after purchasing an additional 792,822 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Mplx by 53.9% during the 1st quarter. BNP Paribas Financial Markets now owns 1,826,484 shares of the pipeline company’s stock valued at $75,909,000 after buying an additional 639,851 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in shares of Mplx by 2.4% in the 2nd 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 buying an additional 353,324 shares in the last quarter. Energy Income Partners LLC increased its holdings in Mplx by 5.1% in the first quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock worth $217,148,000 after buying an additional 255,211 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in 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 valued at $66,636,000 after acquiring an additional 217,674 shares in the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on MPLX. Royal Bank of Canada increased their price target on shares of Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays increased their target price 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. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. UBS Group increased their price objective on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Bank of America assumed coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Mplx has an average rating of “Moderate Buy” and an average target price of $47.67.

Mplx Stock Performance

Shares of NYSE MPLX opened at $43.93 on Friday. Mplx Lp has a 12 month low of $35.06 and a 12 month high of $45.24. The company has a market cap of $44.83 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.21 and a beta of 1.37. The business’s 50 day moving average is $43.64 and its two-hundred day moving average is $42.25. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.17. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. Mplx’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $0.91 earnings per share. On average, equities analysts expect that Mplx Lp will post 4.3 EPS for the current year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio is currently 82.52%.

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.