Envestnet Asset Management Inc. Has $12.11 Million Stock Position in Mplx Lp $MPLX

Envestnet Asset Management Inc. lowered its holdings in shares of Mplx Lp (NYSE:MPLX) by 5.3% in the third quarter, HoldingsChannel reports. The firm owned 242,450 shares of the pipeline company’s stock after selling 13,565 shares during the period. Envestnet Asset Management Inc.’s holdings in Mplx were worth $12,110,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its position in shares of Mplx by 4.1% in the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock valued at $1,287,000 after buying an additional 939 shares during the last quarter. CWM LLC raised its stake in Mplx by 177.8% in the 2nd quarter. CWM LLC now owns 1,711 shares of the pipeline company’s stock valued at $88,000 after acquiring an additional 1,095 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Mplx by 22.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 16,198 shares of the pipeline company’s stock valued at $832,000 after purchasing an additional 2,998 shares during the last quarter. Private Trust Co. NA boosted its position in Mplx by 64.2% during the second quarter. Private Trust Co. NA now owns 2,000 shares of the pipeline company’s stock worth $103,000 after purchasing an additional 782 shares during the period. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Mplx by 1.1% in the second quarter. Stratos Wealth Partners LTD. now owns 38,411 shares of the pipeline company’s stock valued at $1,979,000 after purchasing an additional 428 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MPLX shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 target price on shares of Mplx in a research note on Monday, December 1st. Raymond James Financial downgraded shares of Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Barclays boosted their price objective on Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Citigroup boosted their price target on Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $58.29.

Mplx Stock Up 0.8%

Shares of MPLX opened at $57.29 on Wednesday. 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 $57.99. The firm’s 50 day moving average is $54.81 and its 200-day moving average is $52.42. The stock has a market capitalization of $58.27 billion, a PE ratio of 11.89, a P/E/G ratio of 5.10 and a beta of 0.57.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. Mplx had a return on equity of 34.56% and a net margin of 37.79%.The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a $1.0765 dividend. The ex-dividend date was Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.5%. Mplx’s dividend payout ratio (DPR) is presently 89.42%.

Mplx 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.