Mplx Lp (NYSE:MPLX) Stock Position Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in Mplx Lp (NYSE:MPLX) by 40.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 361,257 shares of the pipeline company’s stock after purchasing an additional 104,218 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Mplx were worth $15,386,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of MPLX. Tortoise Capital Advisors L.L.C. boosted its stake in Mplx by 2.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock valued at $631,435,000 after buying an additional 353,324 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in Mplx by 2.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,545,393 shares of the pipeline company’s stock valued at $236,178,000 after buying an additional 136,013 shares in the last quarter. Energy Income Partners LLC boosted its stake in Mplx by 5.1% during the first quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock valued at $217,148,000 after buying an additional 255,211 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Mplx by 4.0% during the first quarter. Clearbridge Investments LLC now owns 5,200,759 shares of the pipeline company’s stock valued at $216,144,000 after buying an additional 201,500 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in Mplx by 23.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock valued at $111,200,000 after buying an additional 574,737 shares in the last quarter. Institutional investors own 24.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPLX. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company increased their price target on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Barclays dropped their price target on Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. UBS Group lifted their price target on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Mplx in a research note on Wednesday, August 28th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $46.56.

Mplx Trading Up 0.9 %

Shares of NYSE MPLX opened at $45.08 on Wednesday. Mplx Lp has a one year low of $34.52 and a one year high of $45.09. The firm has a market capitalization of $45.81 billion, a PE ratio of 11.62, a PEG 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. The business has a 50-day moving average price of $42.68 and a two-hundred day moving average price of $41.75.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.96 billion. During the same period last year, the company posted $0.91 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, analysts predict that Mplx Lp will post 4.24 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 annualized dividend and a dividend yield of 7.54%. Mplx’s dividend payout ratio is 87.63%.

Mplx Company 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.