BBR Partners LLC Makes New $622,000 Investment in Mplx Lp (NYSE:MPLX)

BBR Partners LLC acquired a new stake in shares of Mplx Lp (NYSE:MPLX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,000 shares of the pipeline company’s stock, valued at approximately $622,000.

Several other institutional investors have also modified their holdings of MPLX. FORA Capital LLC lifted its stake in Mplx by 2.2% in the 3rd quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock valued at $681,000 after buying an additional 332 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Mplx by 7.2% during the third quarter. Glenmede Trust Co. NA now owns 149,509 shares of the pipeline company’s stock valued at $6,647,000 after acquiring an additional 10,000 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Mplx by 15.1% in the third quarter. Townsquare Capital LLC now owns 6,286 shares of the pipeline company’s stock valued at $279,000 after acquiring an additional 826 shares in the last quarter. Principal Street Partners LLC boosted its stake in shares of Mplx by 12.8% in the third quarter. Principal Street Partners LLC now owns 14,253 shares of the pipeline company’s stock worth $610,000 after acquiring an additional 1,612 shares during the last quarter. Finally, FMR LLC increased its position in shares of 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. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Up 1.8 %

Shares of NYSE MPLX opened at $50.52 on Thursday. The company has a market capitalization of $51.47 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.87 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The company has a 50 day simple moving average of $45.37 and a 200-day simple moving average of $43.12. Mplx Lp has a 1 year low of $35.51 and a 1 year high of $50.73.

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 the consensus estimate of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business earned $0.89 EPS. Mplx’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Mplx Lp will post 4.26 earnings per share for the current year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.9565 dividend. 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 7.57%. The ex-dividend date was Friday, November 8th. Mplx’s payout ratio is 90.33%.

Analysts Set New Price Targets

A number of research analysts have weighed in on MPLX shares. Bank of America initiated coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. Royal Bank of Canada raised their price target 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. Truist Financial upped their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company raised their target price 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. Finally, Barclays upped their price target on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Mplx presently has an average rating of “Moderate Buy” and an average price target of $49.44.

Insiders Place Their Bets

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This represents a 21.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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.