Mplx Lp (NYSE:MPLX) Shares Bought by Fmr LLC

Fmr LLC grew its position in Mplx Lp (NYSE:MPLX) by 387.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 823,467 shares of the pipeline company’s stock after purchasing an additional 654,500 shares during the quarter. Fmr LLC owned approximately 0.08% of Mplx worth $36,611,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MPLX. ING Groep NV increased its stake in Mplx by 69.8% in the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after purchasing an additional 2,725,000 shares during the last quarter. Strategic Financial Concepts LLC grew its position in shares of Mplx by 4,274.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 811,371 shares of the pipeline company’s stock valued at $346,000 after buying an additional 792,822 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Mplx by 2.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock worth $631,435,000 after acquiring an additional 353,324 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Mplx by 17.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock valued at $66,636,000 after acquiring an additional 217,674 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Mplx in the third quarter valued at $8,644,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Stock Down 1.4 %

MPLX stock opened at $49.00 on Monday. The stock has a market capitalization of $49.92 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.42. The company has a fifty day moving average of $46.17 and a 200-day moving average of $43.62. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a one year low of $35.51 and a one year high of $51.94.

Mplx (NYSE:MPLX) last announced its quarterly earnings data 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). The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. Mplx’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. As a group, analysts expect that Mplx Lp will post 4.17 EPS for the current year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.9565 dividend. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. This represents a $3.83 annualized dividend and a yield of 7.81%. Mplx’s dividend payout ratio is presently 90.33%.

Analysts Set New Price Targets

A number of research firms have recently commented on MPLX. Royal Bank of Canada lifted their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Bank of America started coverage on Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective for the company. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 22nd. UBS Group upped their price target on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Barclays raised their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, Mplx currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Insider Buying and Selling at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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.