Captrust Financial Advisors Raises Holdings in Mplx Lp (NYSE:MPLX)

Captrust Financial Advisors boosted its holdings in shares of Mplx Lp (NYSE:MPLX) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,475 shares of the pipeline company’s stock after buying an additional 231 shares during the quarter. Captrust Financial Advisors’ holdings in Mplx were worth $2,689,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MPLX. Tidal Investments LLC purchased a new position in Mplx in the first quarter worth $202,000. Cetera Investment Advisers grew its holdings in Mplx by 486.2% in the first quarter. Cetera Investment Advisers now owns 133,685 shares of the pipeline company’s stock worth $5,556,000 after purchasing an additional 110,880 shares during the last quarter. Cetera Advisors LLC grew its holdings in Mplx by 152.0% in the first quarter. Cetera Advisors LLC now owns 34,462 shares of the pipeline company’s stock worth $1,432,000 after purchasing an additional 20,788 shares during the last quarter. Mather Group LLC. grew its holdings in Mplx by 97.0% in the second quarter. Mather Group LLC. now owns 4,378 shares of the pipeline company’s stock worth $182,000 after purchasing an additional 2,156 shares during the last quarter. Finally, CWM LLC grew its holdings in Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 451 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Bank of America assumed coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target on the stock. Royal Bank of Canada lifted their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. UBS Group lifted their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Truist Financial lifted 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, Wells Fargo & Company lifted their price objective on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Mplx Trading Up 0.1 %

NYSE MPLX opened at $49.68 on Friday. The company has a market capitalization of $50.61 billion, a PE ratio of 11.72, a P/E/G ratio of 3.01 and a beta of 1.42. The company has a fifty day moving average of $46.09 and a 200 day moving average of $43.52. Mplx Lp has a 1 year low of $35.51 and a 1 year high of $51.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The business had revenue of $2.97 billion for 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 company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Research analysts forecast that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.9565 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.70%. This is an increase from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is 90.33%.

Insiders Place Their Bets

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’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 of the company’s stock, valued at $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

About Mplx

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.