Envestnet Asset Management Inc. Has $15.39 Million Stake in Mplx Lp (NYSE:MPLX)

Envestnet Asset Management Inc. grew its position in shares of Mplx Lp (NYSE:MPLX) by 40.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 361,257 shares of the pipeline company’s stock after acquiring an additional 104,218 shares during the period. Envestnet Asset Management Inc.’s holdings in Mplx were worth $15,386,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Mplx by 2.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock valued at $631,435,000 after buying an additional 353,324 shares during the last quarter. Chickasaw Capital Management LLC lifted its holdings in Mplx by 2.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 5,545,393 shares of the pipeline company’s stock worth $236,178,000 after purchasing an additional 136,013 shares during the last quarter. Energy Income Partners LLC lifted its holdings in Mplx by 5.1% in the 1st quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock worth $217,148,000 after purchasing an additional 255,211 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Mplx by 4.0% in the 1st quarter. Clearbridge Investments LLC now owns 5,200,759 shares of the pipeline company’s stock worth $216,144,000 after purchasing an additional 201,500 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in Mplx by 23.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock worth $111,200,000 after purchasing an additional 574,737 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MPLX has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 target price on shares of Mplx in a report on Wednesday, August 28th. Wells Fargo & Company boosted their target price on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. UBS Group boosted their target price on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays reduced their target price on Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $46.56.

Mplx Stock Performance

Shares of NYSE MPLX opened at $45.08 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average is $42.68 and its two-hundred day moving average is $41.75. The company has a market cap of $45.81 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.19 and a beta of 1.37. Mplx Lp has a 12 month low of $34.52 and a 12 month high of $45.09.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.17. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Mplx had a return on equity of 32.68% and a net margin of 35.95%. Mplx’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. On average, equities analysts expect that Mplx Lp will post 4.24 EPS for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio is presently 87.63%.

Mplx Profile

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.