BBR Partners LLC Makes New $622,000 Investment in Mplx Lp (NYSE:MPLX)

BBR Partners LLC purchased a new stake in Mplx Lp (NYSE:MPLX - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm purchased 14,000 shares of the pipeline company's stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MPLX. Mcdonald Partners LLC increased its holdings in shares of Mplx by 1.4% in the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company's stock worth $732,000 after acquiring an additional 239 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in Mplx by 1.4% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company's stock worth $876,000 after purchasing an additional 268 shares in the last quarter. Cherry Creek Investment Advisors Inc. raised its holdings in Mplx by 2.0% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company's stock worth $632,000 after buying an additional 279 shares during the period. Sound Income Strategies LLC lifted its stake in Mplx by 10.4% in the second quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company's stock valued at $127,000 after buying an additional 282 shares in the last quarter. Finally, FORA Capital LLC boosted its holdings in shares of Mplx by 2.2% in the third quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company's stock valued at $681,000 after buying an additional 332 shares during the period. Institutional investors own 24.25% of the company's stock.

Mplx Stock Performance

NYSE:MPLX traded up $0.88 during mid-day trading on Thursday, hitting $50.53. The stock had a trading volume of 1,451,321 shares, compared to its average volume of 1,854,211. Mplx Lp has a twelve month low of $35.51 and a twelve month high of $50.73. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The stock has a market cap of $51.48 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.87 and a beta of 1.37. The company's 50 day simple moving average is $45.37 and its 200 day simple moving average is $43.12.

Mplx (NYSE:MPLX - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) 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 analyst estimates of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. On average, equities research analysts forecast that Mplx Lp will post 4.26 earnings per share for the current year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.9565 dividend. This is an increase from Mplx's previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 7.57%. The ex-dividend date was Friday, November 8th. Mplx's payout ratio is currently 90.33%.

Insider Activity

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was 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 in the company, valued at approximately $696,790. This trade represents 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 accessible through this link.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Mplx from $50.00 to $53.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Barclays lifted their target price on Mplx from $45.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. StockNews.com cut shares of Mplx from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 22nd. UBS Group lifted their price objective on shares of Mplx from $51.00 to $55.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, Truist Financial raised their target price on shares of Mplx from $48.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $49.44.

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.