Allspring Global Investments Holdings LLC Purchases 4,842 Shares of Mplx Lp (NYSE:MPLX)

Allspring Global Investments Holdings LLC boosted its position in shares of Mplx Lp (NYSE:MPLX) by 153.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,000 shares of the pipeline company’s stock after acquiring an additional 4,842 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Mplx were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in Mplx by 8.0% during the third quarter. Raymond James & Associates now owns 398,340 shares of the pipeline company’s stock worth $17,710,000 after acquiring an additional 29,388 shares in the last quarter. Capital Investment Advisors LLC bought a new stake in Mplx during the third quarter worth $256,000. Claro Advisors LLC raised its position in Mplx by 52.2% during the third quarter. Claro Advisors LLC now owns 7,994 shares of the pipeline company’s stock worth $355,000 after acquiring an additional 2,741 shares in the last quarter. Secure Asset Management LLC bought a new stake in Mplx during the third quarter worth $225,000. Finally, Zhang Financial LLC bought a new stake in Mplx during the third quarter worth $202,000. 24.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on MPLX shares. Barclays upped their price target on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group increased their price objective on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.67.

Mplx Trading Down 0.5 %

MPLX stock opened at $44.21 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99. The company’s 50-day simple moving average is $43.83 and its 200 day simple moving average is $42.39. Mplx Lp has a 52 week low of $35.06 and a 52 week high of $45.24. The company has a market capitalization of $45.12 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Mplx Lp will post 4.3 earnings per share for the current year.

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 8.65%. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Friday, November 8th. Mplx’s dividend payout ratio is presently 82.52%.

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.