Chickasaw Capital Management LLC Has $280.31 Million Stock Holdings in Mplx Lp $MPLX

Chickasaw Capital Management LLC increased its position in Mplx Lp (NYSE:MPLX) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,611,824 shares of the pipeline company’s stock after acquiring an additional 120,216 shares during the period. Mplx makes up 11.5% of Chickasaw Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Chickasaw Capital Management LLC owned approximately 0.55% of Mplx worth $280,311,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Keudell Morrison Wealth Management acquired a new position in shares of Mplx during the second quarter worth approximately $335,000. Walnut Private Equity Partners LLC raised its stake in Mplx by 14.8% during the 2nd quarter. Walnut Private Equity Partners LLC now owns 242,300 shares of the pipeline company’s stock valued at $12,481,000 after acquiring an additional 31,300 shares in the last quarter. Hilltop National Bank acquired a new position in Mplx during the 2nd quarter worth $330,000. Jump Financial LLC boosted its position in Mplx by 349.2% during the 1st quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company’s stock worth $6,347,000 after acquiring an additional 92,196 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Mplx in the second quarter worth $776,894,000. 24.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MPLX has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a research note on Monday. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Morgan Stanley boosted their target price on Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Finally, Royal Bank Of Canada upped their target price on Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Mplx presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Mplx Price Performance

Shares of NYSE:MPLX opened at $54.40 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. Mplx Lp has a 1 year low of $44.60 and a 1 year high of $56.26. The business has a fifty day simple moving average of $52.21 and a 200 day simple moving average of $51.29. The firm has a market cap of $55.32 billion, a price-to-earnings ratio of 11.52 and a beta of 0.56.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. Mplx had a return on equity of 34.14% and a net margin of 37.61%.The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.16 billion. As a group, sell-side analysts predict that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were paid a $1.0765 dividend. This represents a $4.31 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Mplx’s previous quarterly dividend of $0.96. Mplx’s dividend payout ratio (DPR) is presently 91.31%.

About Mplx

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.