Sanctuary Advisors LLC Purchases 1,832 Shares of Mplx Lp (NYSE:MPLX)

Sanctuary Advisors LLC increased its position in shares of Mplx Lp (NYSE:MPLX) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,530 shares of the pipeline company’s stock after purchasing an additional 1,832 shares during the period. Sanctuary Advisors LLC’s holdings in Mplx were worth $957,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. ING Groep NV grew its holdings in Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after buying an additional 2,725,000 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Mplx by 4,274.2% during the second quarter. Strategic Financial Concepts LLC now owns 811,371 shares of the pipeline company’s stock valued at $346,000 after acquiring an additional 792,822 shares in the last quarter. FMR LLC increased its holdings in Mplx by 387.4% in the 3rd quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock valued at $36,611,000 after acquiring an additional 654,500 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Mplx by 2.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock worth $631,435,000 after purchasing an additional 353,324 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Mplx by 17.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock valued at $66,636,000 after purchasing an additional 217,674 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 2.5 %

Shares of NYSE MPLX opened at $47.28 on Monday. The business’s 50 day moving average price is $46.84 and its 200-day moving average price is $44.11. Mplx Lp has a fifty-two week low of $36.27 and a fifty-two week high of $51.94. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The company has a market cap of $48.17 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 2.91 and a beta of 1.42.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. On average, sell-side analysts expect that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 8.09%. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. Mplx’s payout ratio is 90.09%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MPLX shares. UBS Group lifted their target price on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America began coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. Truist Financial raised their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company increased their price objective on shares of Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Barclays boosted their target price on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.56.

Insiders Place Their Bets

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction 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 completion of the sale, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. The trade was a 21.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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.