JPMorgan Chase & Co. Has $253.87 Million Stock Position in Mplx Lp (NYSE:MPLX)

JPMorgan Chase & Co. reduced its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 15.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,710,053 shares of the pipeline company's stock after selling 1,044,187 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.56% of Mplx worth $253,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its stake in Mplx by 7.2% during the third quarter. Glenmede Trust Co. NA now owns 149,509 shares of the pipeline company's stock worth $6,647,000 after acquiring an additional 10,000 shares during the last quarter. MML Investors Services LLC grew its stake in Mplx by 387.5% during the third quarter. MML Investors Services LLC now owns 23,543 shares of the pipeline company's stock worth $1,047,000 after buying an additional 18,714 shares during the period. Catalyst Capital Advisors LLC increased its position in shares of Mplx by 7.4% in the third quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company's stock worth $12,488,000 after acquiring an additional 19,320 shares in the last quarter. ING Groep NV raised its stake in shares of Mplx by 69.8% in the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company's stock valued at $294,699,000 after acquiring an additional 2,725,000 shares during the period. Finally, Stifel Financial Corp boosted its position in Mplx by 5.3% during the 3rd quarter. Stifel Financial Corp now owns 1,276,828 shares of the pipeline company's stock worth $56,768,000 after purchasing an additional 64,714 shares during the period. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Stock Performance

MPLX stock traded up $0.17 during trading on Tuesday, hitting $47.86. 739,883 shares of the company's stock traded hands, compared to its average volume of 1,851,905. The stock has a fifty day moving average price of $47.36 and a two-hundred day moving average price of $44.47. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. Mplx Lp has a 52 week low of $36.58 and a 52 week high of $51.94. The stock has a market capitalization of $48.76 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 2.91 and a beta of 1.42.

Mplx (NYSE:MPLX - Get Free Report) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate 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 period last year, the company posted $0.89 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid 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 dividend yield of 7.99%. Mplx's dividend payout ratio is presently 90.09%.

Insider Buying and Selling at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm's stock in a transaction 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 sale, the vice president now 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 sale was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group raised their target price on Mplx from $51.00 to $55.00 and gave the company a "buy" rating in a report on Friday, November 15th. Truist Financial lifted their price target 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 boosted their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Royal Bank of Canada boosted their price target on Mplx from $50.00 to $52.00 and gave the stock an "outperform" rating in a research note on Monday, November 18th. Finally, Bank of America started coverage on Mplx in a report on Thursday, October 17th. They issued an "underperform" rating and a $43.00 price target for the company. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $49.56.

About Mplx

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.