Glenmede Trust Co. NA Grows Stock Holdings in Mplx Lp (NYSE:MPLX)

Glenmede Trust Co. NA lifted its position in shares of Mplx Lp (NYSE:MPLX - Free Report) by 7.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,509 shares of the pipeline company's stock after purchasing an additional 10,000 shares during the period. Glenmede Trust Co. NA's holdings in Mplx were worth $6,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. grew 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 period. ING Groep NV boosted its holdings 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 worth $294,699,000 after buying an additional 2,725,000 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in Mplx by 0.8% during 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 period. Chickasaw Capital Management LLC increased its holdings in Mplx by 0.6% during the third quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company's stock worth $248,089,000 after buying an additional 34,659 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its position in Mplx by 7.8% in the second 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 period. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Price Performance

MPLX traded up $1.13 during trading on Friday, reaching $51.66. 1,188,836 shares of the company were exchanged, compared to its average volume of 1,851,333. Mplx Lp has a 12-month low of $35.51 and a 12-month high of $51.94. The company's 50-day moving average is $45.65 and its two-hundred day moving average is $43.27. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The company has a market cap of $52.63 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 2.95 and a beta of 1.37.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Research analysts forecast that Mplx Lp will post 4.26 earnings per share for the current fiscal year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.41%. This is an increase from Mplx's previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. Mplx's dividend payout ratio (DPR) is presently 90.09%.

Insider Activity

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares in the company, valued at approximately $696,790. This represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. UBS Group increased their target price 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. Truist Financial increased their price objective on Mplx from $48.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. StockNews.com downgraded Mplx from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 22nd. Royal Bank of Canada upped their price target on Mplx from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Finally, Barclays lifted their price objective on Mplx from $45.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.