Rockefeller Capital Management L.P. Has $5.49 Million Stock Holdings in Mplx Lp (NYSE:MPLX)

Rockefeller Capital Management L.P. grew its stake in Mplx Lp (NYSE:MPLX - Free Report) by 35.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,434 shares of the pipeline company's stock after purchasing an additional 32,055 shares during the period. Rockefeller Capital Management L.P.'s holdings in Mplx were worth $5,488,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. BBR Partners LLC purchased a new stake in shares of Mplx in the third quarter valued at approximately $622,000. FORA Capital LLC boosted its stake 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 in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Mplx by 7.2% in the third quarter. Glenmede Trust Co. NA now owns 149,509 shares of the pipeline company's stock valued at $6,647,000 after buying an additional 10,000 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Mplx by 15.1% in the third quarter. Townsquare Capital LLC now owns 6,286 shares of the pipeline company's stock valued at $279,000 after buying an additional 826 shares in the last quarter. Finally, Principal Street Partners LLC boosted its stake in shares of Mplx by 12.8% in the third quarter. Principal Street Partners LLC now owns 14,253 shares of the pipeline company's stock valued at $610,000 after buying an additional 1,612 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company's stock.

Insider Transactions 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 sale, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mplx Stock Up 0.5 %

MPLX traded up $0.26 on Thursday, reaching $49.88. The company's stock had a trading volume of 541,004 shares, compared to its average volume of 1,842,008. The stock has a market cap of $50.82 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 3.01 and a beta of 1.42. Mplx Lp has a 1 year low of $35.51 and a 1 year high of $51.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The business's 50 day moving average is $45.98 and its 200 day moving average is $43.48.

Mplx (NYSE:MPLX - Get Free Report) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the business earned $0.89 EPS. The company's quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.67%. This is a boost from Mplx's previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. Mplx's dividend payout ratio is presently 90.33%.

Wall Street Analyst Weigh In

A number of research firms have commented on MPLX. Truist Financial boosted their target price on Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Wells Fargo & Company upped their price objective on Mplx from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Bank of America initiated coverage on Mplx in a research report on Thursday, October 17th. They issued an "underperform" rating and a $43.00 price objective on the stock. Royal Bank of Canada upped their price objective on Mplx from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Finally, UBS Group upped their price objective on Mplx from $51.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.44.

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.