Glenmede Trust Co. NA Buys 10,000 Shares of Mplx Lp (NYSE:MPLX)

Glenmede Trust Co. NA grew its position in Mplx Lp (NYSE:MPLX) by 7.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,509 shares of the pipeline company’s stock after buying an additional 10,000 shares during the quarter. Glenmede Trust Co. NA’s holdings in Mplx were worth $6,647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MPLX. Catalyst Capital Advisors LLC grew its position 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 period. ING Groep NV lifted its stake in shares of 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 buying an additional 2,725,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 in the last quarter. Lindbrook Capital LLC boosted its holdings in Mplx by 27.2% during the 3rd quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock worth $2,318,000 after acquiring an additional 11,144 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Mplx by 40.5% in 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 in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

MPLX has been the subject of several research analyst reports. 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. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company lifted their price target on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. UBS Group increased their price target 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. Finally, Truist Financial increased their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Mplx Stock Up 2.2 %

Shares of MPLX stock opened at $51.66 on Friday. Mplx Lp has a 12 month low of $35.51 and a 12 month high of $51.94. The company has a 50 day simple moving average of $45.65 and a two-hundred day simple moving average of $43.25. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The stock has a market cap of $52.63 billion, a P/E ratio of 12.18, a P/E/G ratio of 2.95 and a beta of 1.37.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. On average, research analysts expect that Mplx Lp will post 4.26 earnings per share for the current year.

Mplx Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a dividend of $0.9565 per share. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.41%. Mplx’s payout ratio is 90.09%.

Mplx Company 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.