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

Captrust Financial Advisors boosted its holdings in Mplx Lp (NYSE:MPLX) by 0.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 60,475 shares of the pipeline company’s stock after buying an additional 231 shares during the period. Captrust Financial Advisors’ holdings in Mplx were worth $2,689,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on MPLX shares. Truist Financial raised their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada increased their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Barclays increased their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, UBS Group increased their price target on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Stock Up 0.1 %

Shares of NYSE MPLX opened at $49.68 on Friday. 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 market cap of $50.61 billion, a P/E ratio of 11.72, a PEG ratio of 3.01 and a beta of 1.42. Mplx Lp has a 1 year low of $35.51 and a 1 year high of $51.94. The firm has a 50-day simple moving average of $46.09 and a two-hundred day simple moving average of $43.52.

Mplx (NYSE:MPLX) last issued its 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 for 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 revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. Research analysts anticipate that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.9565 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.70%. Mplx’s dividend payout ratio (DPR) is 90.33%.

Insider Transactions at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction that occurred 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 transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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.