Mplx Lp (NYSE:MPLX) is Kayne Anderson Capital Advisors LP’s 6th Largest Position

Kayne Anderson Capital Advisors LP reduced its stake in shares of Mplx Lp (NYSE:MPLX) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,756,505 shares of the pipeline company’s stock after selling 124,700 shares during the quarter. Mplx comprises approximately 6.6% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 6th largest position. Kayne Anderson Capital Advisors LP owned about 0.57% of Mplx worth $211,379,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MPLX. Alps Advisors Inc. boosted its position in shares of Mplx by 18.9% during the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock valued at $1,023,413,000 after acquiring an additional 4,579,152 shares during the last quarter. Citigroup Inc. boosted its position in shares of Mplx by 60.6% during the 3rd quarter. Citigroup Inc. now owns 2,028,514 shares of the pipeline company’s stock valued at $72,154,000 after acquiring an additional 765,618 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in Mplx by 99.8% in the third quarter. Catalyst Capital Advisors LLC now owns 236,365 shares of the pipeline company’s stock worth $8,408,000 after buying an additional 118,090 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in Mplx by 2.8% during the fourth quarter. Miller Howard Investments Inc. NY now owns 2,362,999 shares of the pipeline company’s stock worth $86,769,000 after buying an additional 65,380 shares during the period. Finally, Capital Advisors Inc. OK purchased a new position in Mplx during the fourth quarter worth $2,878,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Trading Up 0.1 %

Shares of MPLX traded up $0.05 during trading hours on Thursday, reaching $41.82. 296,544 shares of the company traded hands, compared to its average volume of 2,141,625. The firm has a market cap of $42.27 billion, a price-to-earnings ratio of 10.77 and a beta of 1.35. Mplx Lp has a 12-month low of $33.12 and a 12-month high of $42.90. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. The stock’s fifty day moving average price is $40.88 and its 200 day moving average price is $38.28.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a net margin of 34.96% and a return on equity of 31.70%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Sell-side analysts forecast that Mplx Lp will post 4.06 earnings per share for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $3.40 annualized dividend and a dividend yield of 8.13%. Mplx’s payout ratio is currently 87.63%.

Wall Street Analyst Weigh In

MPLX has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Barclays lifted their price objective on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Royal Bank of Canada lifted their price objective on shares of Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Truist Financial lifted their price objective on shares of Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Mplx presently has an average rating of “Moderate Buy” and a consensus target price of $45.11.

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.