Van ECK Associates Corp Has $3.27 Million Holdings in Mplx Lp (NYSE:MPLX)

Van ECK Associates Corp increased its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,289 shares of the pipeline company's stock after acquiring an additional 10,480 shares during the period. Van ECK Associates Corp's holdings in Mplx were worth $3,268,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PFG Investments LLC grew its position in Mplx by 38.5% in the fourth quarter. PFG Investments LLC now owns 38,506 shares of the pipeline company's stock valued at $1,843,000 after purchasing an additional 10,705 shares in the last quarter. Walnut Private Equity Partners LLC increased its position in shares of Mplx by 479.6% during the 4th quarter. Walnut Private Equity Partners LLC now owns 153,600 shares of the pipeline company's stock worth $7,351,000 after purchasing an additional 127,100 shares during the last quarter. MML Investors Services LLC raised its stake in shares of Mplx by 387.5% during the 3rd quarter. MML Investors Services LLC now owns 23,543 shares of the pipeline company's stock worth $1,047,000 after purchasing an additional 18,714 shares in the last quarter. Glenmede Trust Co. NA grew 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. Finally, Catalyst Capital Advisors LLC grew its stake 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 valued at $12,488,000 after buying an additional 19,320 shares in the last quarter. 24.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MPLX. Barclays raised their price target on Mplx from $49.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Royal Bank of Canada lifted their target price on Mplx from $50.00 to $52.00 and gave the stock an "outperform" rating in a report on Monday, November 18th. Raymond James boosted their target price on shares of Mplx from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Truist Financial raised their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, StockNews.com raised shares of Mplx from a "buy" rating to a "strong-buy" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.11.

Mplx Price Performance

MPLX traded down $0.44 during trading on Friday, hitting $53.40. 1,478,986 shares of the stock traded hands, compared to its average volume of 1,950,607. The business has a 50 day moving average price of $50.54 and a 200 day moving average price of $46.89. The company has a market cap of $54.40 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.69 and a beta of 1.42. Mplx Lp has a twelve month low of $38.44 and a twelve month high of $54.74. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.03. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.07 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.9565 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.83 annualized dividend and a dividend yield of 7.16%. Mplx's dividend payout ratio is 90.74%.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.