TrueMark Investments LLC Invests $5.39 Million in Mplx Lp (NYSE:MPLX)

TrueMark Investments LLC acquired a new position in shares of Mplx Lp (NYSE:MPLX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 112,695 shares of the pipeline company’s stock, valued at approximately $5,394,000. Mplx makes up approximately 1.7% of TrueMark Investments LLC’s holdings, making the stock its 12th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Duff & Phelps Investment Management Co. lifted its position in Mplx by 4.9% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,933,486 shares of the pipeline company’s stock worth $85,963,000 after buying an additional 90,793 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Mplx by 1.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,568,200 shares of the pipeline company’s stock valued at $75,054,000 after acquiring an additional 17,900 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Mplx by 0.5% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,506,962 shares of the pipeline company’s stock worth $72,123,000 after acquiring an additional 8,166 shares in the last quarter. Stifel Financial Corp boosted its position in Mplx by 5.3% during the third quarter. Stifel Financial Corp now owns 1,276,828 shares of the pipeline company’s stock valued at $56,768,000 after purchasing an additional 64,714 shares during the last quarter. Finally, Progeny 3 Inc. grew its stake in Mplx by 2.0% in the third quarter. Progeny 3 Inc. now owns 1,015,459 shares of the pipeline company’s stock valued at $45,147,000 after purchasing an additional 19,800 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Insider Buying and Selling

In other news, VP Shawn M. Lyon acquired 4,000 shares of Mplx stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $52.75 per share, for a total transaction of $211,000.00. Following the completion of the purchase, the vice president now directly owns 25,299 shares of the company’s stock, valued at approximately $1,334,522.25. This represents a 18.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Mplx Stock Down 1.0 %

MPLX stock opened at $53.34 on Wednesday. Mplx Lp has a fifty-two week low of $39.56 and a fifty-two week high of $54.87. 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 stock has a market capitalization of $54.54 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.69 and a beta of 1.40. The business’s fifty day moving average price is $52.88 and its two-hundred day moving average price is $48.66.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. 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 previous year, the company earned $1.10 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $0.9565 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.17%. Mplx’s payout ratio is 90.74%.

Wall Street Analyst Weigh In

MPLX has been the topic of a number of analyst reports. Barclays upped their price objective on Mplx from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Morgan Stanley increased their price target on shares of Mplx from $56.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Raymond James lifted their price objective 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. Wells Fargo & Company upped their target price on shares of Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.