Mplx Lp (NYSE:MPLX) Shares Bought by Cresset Asset Management LLC

Cresset Asset Management LLC lifted its holdings in shares of Mplx Lp (NYSE:MPLX) by 147.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,698 shares of the pipeline company’s stock after buying an additional 34,404 shares during the period. Cresset Asset Management LLC’s holdings in Mplx were worth $2,761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. VSM Wealth Advisory LLC purchased a new position in Mplx during the fourth quarter worth about $31,000. Geneos Wealth Management Inc. lifted its holdings in shares of Mplx by 56.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after buying an additional 409 shares during the period. Generali Asset Management SPA SGR purchased a new stake in shares of Mplx in the fourth quarter valued at approximately $56,000. Russell Investments Group Ltd. grew its holdings in Mplx by 139.6% during the fourth quarter. Russell Investments Group Ltd. now owns 1,785 shares of the pipeline company’s stock worth $85,000 after acquiring an additional 1,040 shares during the period. Finally, RE Dickinson Investment Advisors LLC raised its position in Mplx by 11.5% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company’s stock worth $96,000 after acquiring an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Insider Buying and Selling at Mplx

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

Wall Street Analysts Forecast Growth

MPLX has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on shares of Mplx from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, March 17th. Morgan Stanley increased their target price on shares of Mplx from $56.00 to $62.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Barclays boosted their price target on Mplx from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Finally, Raymond James upped their target price on Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and an average target price of $55.88.

Mplx Stock Performance

Mplx stock opened at $49.03 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a fifty-two week low of $39.84 and a fifty-two week high of $54.87. The stock has a fifty day moving average of $51.40 and a two-hundred day moving average of $50.12. The company has a market capitalization of $50.13 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.69 and a beta of 0.76.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 9th will be paid a $0.9565 dividend. The ex-dividend date is Friday, May 9th. This represents a $3.83 annualized dividend and a yield of 7.80%. Mplx’s payout ratio is currently 90.74%.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.