Mplx Lp (NYSE:MPLX) Shares Purchased by Eagle Global Advisors LLC

Eagle Global Advisors LLC grew its holdings in Mplx Lp (NYSE:MPLX) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,651,637 shares of the pipeline company’s stock after acquiring an additional 128,911 shares during the period. Mplx comprises 3.7% of Eagle Global Advisors LLC’s holdings, making the stock its 5th biggest position. Eagle Global Advisors LLC’s holdings in Mplx were worth $60,648,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MPLX. Barclays PLC increased its stake in Mplx by 440.5% during the 3rd quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company’s stock worth $200,946,000 after acquiring an additional 4,604,066 shares during the period. Alps Advisors Inc. lifted its holdings in Mplx by 18.9% during the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock worth $1,023,413,000 after buying an additional 4,579,152 shares during the period. Invesco Ltd. lifted its holdings in Mplx by 4.0% during the 3rd quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company’s stock worth $744,036,000 after buying an additional 809,273 shares during the period. Citigroup Inc. lifted its stake in shares of Mplx by 60.6% in the 3rd quarter. Citigroup Inc. now owns 2,028,514 shares of the pipeline company’s stock valued at $72,154,000 after purchasing an additional 765,618 shares during the period. Finally, UBS Group AG lifted its stake in shares of Mplx by 12.2% in the 3rd quarter. UBS Group AG now owns 5,869,436 shares of the pipeline company’s stock valued at $208,776,000 after purchasing an additional 639,199 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays boosted their target price on Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. UBS Group upped their target price on Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada upped their target price on Mplx from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Stifel Nicolaus upped their price objective on Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Truist Financial increased their target price on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Mplx has an average rating of “Moderate Buy” and a consensus target price of $45.11.

Mplx Stock Down 0.1 %

Shares of MPLX traded down $0.03 during mid-day trading on Friday, reaching $40.21. The company had a trading volume of 1,998,000 shares, compared to its average volume of 2,187,359. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.67 and a current ratio of 0.72. The firm has a 50-day moving average price of $41.09 and a 200 day moving average price of $38.66. Mplx Lp has a 52 week low of $33.12 and a 52 week high of $42.90. The company has a market capitalization of $40.86 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Mplx’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Mplx Lp will post 4.01 EPS for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were issued a $0.85 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 8.46%. Mplx’s payout ratio is currently 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.