Mplx Lp (NYSE:MPLX) Stake Raised by ING Groep NV

ING Groep NV raised its holdings in Mplx Lp (NYSE:MPLX) by 69.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,628,400 shares of the pipeline company’s stock after purchasing an additional 2,725,000 shares during the period. Mplx comprises 1.7% of ING Groep NV’s holdings, making the stock its 10th largest position. ING Groep NV’s holdings in Mplx were worth $294,699,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mcdonald Partners LLC boosted its stake in Mplx by 1.4% during the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock worth $732,000 after buying an additional 239 shares during the period. Cherry Creek Investment Advisors Inc. raised its position in Mplx by 2.0% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock valued at $632,000 after purchasing an additional 279 shares during the period. Sound Income Strategies LLC lifted its stake in Mplx by 10.4% during the second quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock worth $127,000 after purchasing an additional 282 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in shares of Mplx by 3.9% during the third quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock worth $396,000 after buying an additional 338 shares during the period. Finally, Addis & Hill Inc grew its stake in shares of Mplx by 2.7% in the third quarter. Addis & Hill Inc now owns 13,462 shares of the pipeline company’s stock valued at $599,000 after buying an additional 357 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Price Performance

NYSE MPLX traded up $0.32 during trading hours on Thursday, reaching $45.95. The company’s stock had a trading volume of 320,969 shares, compared to its average volume of 1,856,504. The company’s 50-day moving average is $44.36 and its two-hundred day moving average is $42.65. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The stock has a market cap of $46.90 billion, a PE ratio of 10.85, a PEG ratio of 1.25 and a beta of 1.37. Mplx Lp has a fifty-two week low of $35.31 and a fifty-two week high of $47.62.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the business earned $0.89 EPS. Mplx’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts forecast that Mplx Lp will post 4.31 EPS for the current year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a dividend of $0.9565 per share. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a yield of 8.33%. The ex-dividend date is Friday, November 8th. Mplx’s dividend payout ratio is presently 90.33%.

Analyst Ratings Changes

MPLX has been the subject of several research reports. Wells Fargo & Company lifted their target price on Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays lifted their price target on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, UBS Group upped their target price on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.00.

Mplx Company 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.