Mplx Lp (NYSE:MPLX) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of Mplx Lp (NYSE:MPLX) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 251,137 shares of the pipeline company’s stock after selling 18,841 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Mplx were worth $13,441,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of MPLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mplx by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company’s stock worth $330,448,000 after purchasing an additional 266,998 shares during the period. Bramshill Investments LLC lifted its holdings in Mplx by 71.4% in the fourth quarter. Bramshill Investments LLC now owns 30,130 shares of the pipeline company’s stock worth $1,442,000 after purchasing an additional 12,556 shares during the period. Neuberger Berman Group LLC lifted its holdings in Mplx by 221.9% in the fourth quarter. Neuberger Berman Group LLC now owns 643,995 shares of the pipeline company’s stock worth $30,822,000 after purchasing an additional 443,910 shares during the period. Blair William & Co. IL lifted its holdings in Mplx by 47.5% in the fourth quarter. Blair William & Co. IL now owns 18,520 shares of the pipeline company’s stock worth $886,000 after purchasing an additional 5,965 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Mplx by 17.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company’s stock worth $5,833,000 after purchasing an additional 15,807 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays reiterated an “overweight” rating and issued a $53.00 price target (up from $52.00) on shares of Mplx in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.63.

Mplx Price Performance

Shares of MPLX opened at $50.76 on Friday. The company has a market capitalization of $51.82 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.32 and a beta of 0.73. Mplx Lp has a fifty-two week low of $39.95 and a fifty-two week high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 1.04. The business’s 50-day moving average is $51.08 and its 200-day moving average is $51.40.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were issued a $0.9565 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.83 dividend on an annualized basis and a yield of 7.54%. Mplx’s dividend payout ratio is currently 88.45%.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.