Mutual of America Capital Management LLC Acquires 5,766 Shares of Mplx Lp (NYSE:MPLX)

Mutual of America Capital Management LLC grew its holdings in shares of Mplx Lp (NYSE:MPLX) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,333 shares of the pipeline company’s stock after buying an additional 5,766 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Mplx were worth $2,149,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. CWM LLC lifted its position in shares of Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares during the last quarter. Summit Securities Group LLC grew its position in shares of Mplx by 450.0% in the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after buying an additional 900 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in Mplx during the 2nd quarter valued at approximately $67,000. Ashton Thomas Private Wealth LLC bought a new position in Mplx during the second quarter worth $88,000. Finally, Sound Income Strategies LLC raised its position in shares of Mplx by 10.4% in the 2nd quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock worth $127,000 after acquiring an additional 282 shares in the last quarter. Institutional investors own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

MPLX has been the topic of a number of recent research reports. Bank of America assumed coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. UBS Group boosted their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada upped their price target on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Finally, Truist Financial raised their price target on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Insider Transactions at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now owns 14,750 shares of the company’s stock, valued at $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Mplx Price Performance

Shares of MPLX opened at $49.50 on Monday. The firm has a fifty day simple moving average of $45.02 and a two-hundred day simple moving average of $42.96. The firm has a market cap of $50.43 billion, a PE ratio of 11.67, a P/E/G ratio of 2.82 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 1.40. Mplx Lp has a 1-year low of $35.51 and a 1-year high of $49.54.

Mplx (NYSE:MPLX) last posted 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). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company posted $0.89 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Mplx Lp will post 4.26 EPS for the current year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.9565 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a yield of 7.73%. Mplx’s dividend payout ratio (DPR) is presently 90.09%.

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.