Tectonic Advisors LLC Grows Position in Mplx Lp $MPLX

Tectonic Advisors LLC grew its holdings in shares of Mplx Lp (NYSE:MPLX) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 241,725 shares of the pipeline company’s stock after acquiring an additional 16,962 shares during the quarter. Tectonic Advisors LLC’s holdings in Mplx were worth $12,074,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MPLX. Delta Investment Management LLC raised its stake in Mplx by 50.9% in the third quarter. Delta Investment Management LLC now owns 37,371 shares of the pipeline company’s stock valued at $1,867,000 after purchasing an additional 12,606 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Mplx by 38.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 22,402 shares of the pipeline company’s stock worth $1,117,000 after buying an additional 6,204 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of Mplx by 1.6% in the 3rd quarter. Merit Financial Group LLC now owns 19,127 shares of the pipeline company’s stock worth $955,000 after buying an additional 305 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Mplx by 1.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,733,800 shares of the pipeline company’s stock valued at $86,603,000 after buying an additional 18,000 shares in the last quarter. Finally, SL Advisors LLC lifted its holdings in shares of Mplx by 1.8% during the 3rd quarter. SL Advisors LLC now owns 17,680 shares of the pipeline company’s stock worth $883,000 after acquiring an additional 305 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Down 0.4%

Shares of NYSE:MPLX opened at $53.40 on Friday. The stock has a market capitalization of $54.31 billion, a P/E ratio of 11.31 and a beta of 0.56. The stock’s 50-day moving average price is $53.21 and its 200-day moving average price is $51.47. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. Mplx Lp has a 12-month low of $44.60 and a 12-month high of $56.26.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3.16 billion. Mplx had a return on equity of 34.14% and a net margin of 37.61%. On average, equities analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were given a $1.0765 dividend. The ex-dividend date was Friday, November 7th. This is an increase from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 annualized dividend and a yield of 8.1%. Mplx’s dividend payout ratio is presently 91.31%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Morgan Stanley lifted their price target on Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Barclays increased their price objective on Mplx from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Wells Fargo & Company cut their target price on Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.