True North Advisors LLC Buys New Stake in Mplx Lp (NYSE:MPLX)

True North Advisors LLC purchased a new position in Mplx Lp (NYSE:MPLX) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 8,946 shares of the pipeline company’s stock, valued at approximately $398,000.

A number of other large investors also recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its stake in Mplx by 35.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 37,417 shares of the pipeline company’s stock valued at $1,374,000 after acquiring an additional 9,717 shares in the last quarter. Tortoise Index Solutions LLC grew its holdings in shares of Mplx by 12.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 463,273 shares of the pipeline company’s stock valued at $17,011,000 after acquiring an additional 52,790 shares in the last quarter. Pinnacle Holdings LLC increased its stake in shares of Mplx by 4.7% in the fourth quarter. Pinnacle Holdings LLC now owns 82,244 shares of the pipeline company’s stock worth $3,020,000 after acquiring an additional 3,723 shares during the last quarter. Brave Warrior Advisors LLC raised its holdings in shares of Mplx by 41.7% during the fourth quarter. Brave Warrior Advisors LLC now owns 17,000 shares of the pipeline company’s stock worth $624,000 after acquiring an additional 5,000 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in Mplx during the fourth quarter valued at $1,572,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Up 0.0 %

NYSE MPLX opened at $43.80 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $44.51 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.24 and a beta of 1.37. Mplx Lp has a 1-year low of $35.06 and a 1-year high of $45.24. The stock’s 50 day moving average is $43.00 and its two-hundred day moving average is $42.03.

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

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.76%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s dividend payout ratio is currently 87.63%.

Analysts Set New Price Targets

Several brokerages have weighed in on MPLX. UBS Group upped their target price on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of Mplx in a report on Wednesday, August 28th. Wells Fargo & Company boosted their price objective on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Barclays lowered their price target on Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $47.38.

About Mplx

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.