Tidal Investments LLC Has $656,000 Stock Holdings in Mplx Lp (NYSE:MPLX)

Tidal Investments LLC lifted its holdings in shares of Mplx Lp (NYSE:MPLX) by 23.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,764 shares of the pipeline company’s stock after buying an additional 2,785 shares during the period. Tidal Investments LLC’s holdings in Mplx were worth $656,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tortoise Capital Advisors L.L.C. raised its holdings in Mplx by 2.4% during the second 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 in the last quarter. ING Groep NV lifted its holdings in Mplx by 69.8% in the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after purchasing an additional 2,725,000 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Mplx by 0.8% during the third quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company’s stock worth $255,003,000 after purchasing an additional 45,271 shares during the period. Chickasaw Capital Management LLC grew its holdings in Mplx by 0.6% during the third quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company’s stock valued at $248,089,000 after purchasing an additional 34,659 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its position in shares of Mplx by 7.8% in the second quarter. Miller Howard Investments Inc. NY now owns 2,571,817 shares of the pipeline company’s stock valued at $109,534,000 after purchasing an additional 186,084 shares during the period. Institutional investors own 24.25% of the company’s stock.

Insiders Place Their Bets

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the sale, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This represents a 21.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays lifted their price objective on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Truist Financial increased their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada lifted their price target on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company increased their price objective on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.56.

Mplx Price Performance

Shares of Mplx stock opened at $47.28 on Friday. The firm has a market cap of $48.17 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 2.91 and a beta of 1.42. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a twelve month low of $36.27 and a twelve month high of $51.94. The firm’s 50-day simple moving average is $46.84 and its 200-day simple moving average is $44.11.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the firm earned $0.89 EPS. Mplx’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.9565 dividend. The ex-dividend date was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a yield of 8.09%. Mplx’s payout ratio is 90.33%.

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.