Cerity Partners LLC Has $1.82 Million Holdings in Mplx Lp (NYSE:MPLX)

Cerity Partners LLC grew its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 42.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,028 shares of the pipeline company's stock after purchasing an additional 12,236 shares during the quarter. Cerity Partners LLC's holdings in Mplx were worth $1,824,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. lifted its stake in Mplx by 2.4% in the 2nd 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 purchasing an additional 353,324 shares during the last quarter. ING Groep NV raised 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 buying an additional 2,725,000 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in shares of Mplx by 0.8% in the third quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company's stock valued at $255,003,000 after buying an additional 45,271 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Mplx by 0.6% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company's stock worth $248,089,000 after acquiring an additional 34,659 shares during the period. Finally, Miller Howard Investments Inc. NY increased its holdings in shares of Mplx by 7.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,571,817 shares of the pipeline company's stock worth $109,534,000 after acquiring an additional 186,084 shares during the last quarter. Institutional investors own 24.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MPLX shares. UBS Group raised their price target on Mplx from $51.00 to $55.00 and gave the company a "buy" rating in a report on Friday, November 15th. Truist Financial raised their target price on shares of Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Barclays upped their price target on shares of Mplx from $45.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Bank of America assumed coverage on shares of Mplx in a research report on Thursday, October 17th. They set an "underperform" rating and a $43.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Mplx from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Mplx currently has a consensus rating of "Moderate Buy" and an average target price of $49.44.

Mplx Price Performance

Shares of MPLX stock traded down $0.64 during trading on Tuesday, hitting $50.55. The company had a trading volume of 1,595,491 shares, compared to its average volume of 1,847,928. The firm has a market capitalization of $51.50 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 3.05 and a beta of 1.42. Mplx Lp has a one year low of $35.51 and a one year high of $51.94. 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's 50-day moving average price is $45.89 and its 200 day moving average price is $43.43.

Mplx (NYSE:MPLX - Get Free Report) last released 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 company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Increases Dividend

The company also recently announced 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 a positive change from Mplx's previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a yield of 7.57%. The ex-dividend date was Friday, November 8th. Mplx's dividend payout ratio (DPR) is currently 90.33%.

Insider Transactions at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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.