Evergreen Capital Management LLC Trims Stock Position in Mplx Lp (NYSE:MPLX)

Evergreen Capital Management LLC lessened its holdings in Mplx Lp (NYSE:MPLX) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,120 shares of the pipeline company’s stock after selling 3,983 shares during the quarter. Evergreen Capital Management LLC’s holdings in Mplx were worth $9,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in Mplx in the 1st quarter worth about $35,000. Crewe Advisors LLC bought a new stake in Mplx in the first quarter valued at about $41,000. Pacifica Partners Inc. acquired a new stake in Mplx during the first quarter valued at approximately $41,000. Register Financial Advisors LLC bought a new position in Mplx during the 1st quarter worth approximately $42,000. Finally, CWM LLC grew its position in shares of Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 451 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Performance

NYSE:MPLX opened at $44.20 on Monday. The firm has a 50 day moving average of $42.57 and a 200-day moving average of $41.69. Mplx Lp has a 1 year low of $34.52 and a 1 year high of $44.59. The stock has a market capitalization of $44.92 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.41.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.17. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mplx Lp will post 4.24 EPS for the current fiscal year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.69%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s dividend payout ratio is 87.63%.

Analyst Ratings Changes

MPLX has been the subject of several research reports. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 11th. UBS Group upped their target price on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company raised their price target on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays lowered their price objective on Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Mplx in a research note on Wednesday, August 28th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $46.56.

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.