Evergreen Capital Management LLC Raises Stock Holdings in Mplx Lp (NYSE:MPLX)

Evergreen Capital Management LLC raised its holdings in Mplx Lp (NYSE:MPLX) by 0.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 215,910 shares of the pipeline company’s stock after acquiring an additional 642 shares during the quarter. Evergreen Capital Management LLC’s holdings in Mplx were worth $10,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PFG Investments LLC increased its stake in Mplx by 38.5% in the 4th quarter. PFG Investments LLC now owns 38,506 shares of the pipeline company’s stock worth $1,843,000 after buying an additional 10,705 shares during the period. Walnut Private Equity Partners LLC increased its position in shares of Mplx by 479.6% during the fourth quarter. Walnut Private Equity Partners LLC now owns 153,600 shares of the pipeline company’s stock worth $7,351,000 after acquiring an additional 127,100 shares during the period. MML Investors Services LLC raised its stake in shares of Mplx by 387.5% during the third quarter. MML Investors Services LLC now owns 23,543 shares of the pipeline company’s stock valued at $1,047,000 after acquiring an additional 18,714 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Mplx by 9,134.1% in the fourth quarter. Larson Financial Group LLC now owns 11,635 shares of the pipeline company’s stock valued at $557,000 after purchasing an additional 11,509 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Mplx by 0.5% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,506,962 shares of the pipeline company’s stock worth $72,123,000 after purchasing an additional 8,166 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Stock Up 0.9 %

Mplx stock opened at $50.03 on Wednesday. The business has a fifty day moving average price of $52.36 and a 200-day moving average price of $49.35. Mplx Lp has a 1-year low of $39.56 and a 1-year high of $54.87. The stock has a market capitalization of $51.16 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.69 and a beta of 1.11. 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 issued its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 earnings per share. Equities research analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.9565 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.83 annualized dividend and a dividend yield of 7.65%. Mplx’s payout ratio is currently 90.74%.

Insider Activity

In other news, VP Shawn M. Lyon bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $52.75 per share, with a total value of $211,000.00. Following the completion of the acquisition, the vice president now directly owns 25,299 shares of the company’s stock, valued at $1,334,522.25. This trade represents a 18.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

MPLX has been the subject of several research reports. Raymond James upped their target price on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Royal Bank of Canada boosted their price target on shares of Mplx from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, March 17th. Morgan Stanley increased their price objective on shares of Mplx from $56.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Mplx currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.