Allspring Global Investments Holdings LLC Buys 4,842 Shares of Mplx Lp (NYSE:MPLX)

Allspring Global Investments Holdings LLC grew its stake in Mplx Lp (NYSE:MPLX) by 153.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the pipeline company’s stock after acquiring an additional 4,842 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Mplx were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Quent Capital LLC bought a new stake in shares of Mplx during the first quarter worth approximately $35,000. Crewe Advisors LLC bought a new stake in shares of Mplx during the first quarter worth approximately $41,000. CWM LLC raised its stake in shares of Mplx by 73.3% during the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after buying an additional 451 shares during the last quarter. Summit Securities Group LLC raised its stake in shares of Mplx by 450.0% during the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after buying an additional 900 shares during the last quarter. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of Mplx during the second quarter worth approximately $67,000. 24.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MPLX has been the subject of a number of recent research reports. Bank of America initiated coverage on shares of Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. Barclays boosted their price target on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group boosted their price objective on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.67.

Mplx Stock Down 0.5 %

Mplx stock opened at $44.21 on Friday. The stock has a market capitalization of $45.12 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37. Mplx Lp has a twelve month low of $35.06 and a twelve month high of $45.24. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. The company has a 50 day moving average of $43.83 and a 200-day moving average of $42.39.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.17. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, equities research analysts anticipate that Mplx Lp will post 4.3 EPS for the current fiscal year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 8.65%. The ex-dividend date is Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is 82.52%.

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.