Caprock Group LLC Buys Shares of 53,046 Mplx Lp $MPLX

Caprock Group LLC purchased a new position in shares of Mplx Lp (NYSE:MPLX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 53,046 shares of the pipeline company’s stock, valued at approximately $2,698,000.

Several other institutional investors and hedge funds have also modified their holdings of MPLX. NewEdge Advisors LLC raised its holdings in Mplx by 4.1% during the 1st quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock worth $1,287,000 after buying an additional 939 shares during the period. Blue Trust Inc. increased its position in shares of Mplx by 509.0% during the second quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 509 shares in the last quarter. CWM LLC raised its holdings in shares of Mplx by 177.8% during the second quarter. CWM LLC now owns 1,711 shares of the pipeline company’s stock worth $88,000 after acquiring an additional 1,095 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Mplx by 22.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 16,198 shares of the pipeline company’s stock worth $832,000 after acquiring an additional 2,998 shares during the period. Finally, Private Wealth Asset Management LLC bought a new stake in Mplx in the 2nd quarter valued at $26,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Price Performance

NYSE:MPLX opened at $55.21 on Friday. The stock has a market capitalization of $56.15 billion, a PE ratio of 11.45, a P/E/G ratio of 5.00 and a beta of 0.57. Mplx Lp has a 1-year low of $44.60 and a 1-year high of $57.15. The firm has a fifty day simple moving average of $54.72 and a 200 day simple moving average of $52.31. 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 (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.07. Mplx had a net margin of 37.79% and a return on equity of 34.56%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts expect that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 9th will be issued a dividend of $1.0765 per share. The ex-dividend date is Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a yield of 7.8%. Mplx’s dividend payout ratio (DPR) is presently 89.42%.

Analysts Set New Price Targets

MPLX has been the topic of several recent research reports. Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. Citigroup lifted their target price on Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays upped their price target on Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Finally, Royal Bank Of Canada lifted their price objective on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Mplx has an average rating of “Moderate Buy” and a consensus target price of $58.29.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.