Mplx Lp (NYSE:MPLX) Shares Purchased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its position in shares of Mplx Lp (NYSE:MPLX) by 62.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,688 shares of the pipeline company’s stock after purchasing an additional 4,474 shares during the period. Icon Wealth Advisors LLC’s holdings in Mplx were worth $520,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MPLX. Catalyst Capital Advisors LLC increased its holdings in shares of Mplx by 7.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock worth $12,488,000 after buying an additional 19,320 shares during the last quarter. ING Groep NV increased its stake in Mplx by 69.8% during the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after acquiring an additional 2,725,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Mplx by 22.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock valued at $3,487,000 after purchasing an additional 14,782 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Mplx by 27.2% in the 3rd quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock valued at $2,318,000 after purchasing an additional 11,144 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Mplx by 40.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 361,257 shares of the pipeline company’s stock worth $15,386,000 after purchasing an additional 104,218 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mplx Price Performance

Shares of NYSE MPLX opened at $49.50 on Friday. The stock’s 50-day simple moving average is $45.02 and its 200-day simple moving average is $42.95. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market capitalization of $50.43 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 2.82 and a beta of 1.37. Mplx Lp has a fifty-two week low of $35.51 and a fifty-two week high of $49.54.

Mplx (NYSE:MPLX) last released 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). The company 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 business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. As a group, equities research analysts forecast that Mplx Lp will post 4.26 EPS for the current fiscal year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a dividend of $0.9565 per share. The ex-dividend date was Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a yield of 7.73%. Mplx’s dividend payout ratio is currently 90.33%.

Analysts Set New Price Targets

A number of research analysts have commented on MPLX shares. Barclays upped their target price on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company raised their price target on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Bank of America started coverage on Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price for the company. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus 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.