Townsquare Capital LLC Buys 826 Shares of Mplx Lp (NYSE:MPLX)

Townsquare Capital LLC increased its stake in shares of Mplx Lp (NYSE:MPLX) by 15.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,286 shares of the pipeline company’s stock after buying an additional 826 shares during the quarter. Townsquare Capital LLC’s holdings in Mplx were worth $279,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Principal Street Partners LLC grew its holdings in Mplx by 12.8% during the third quarter. Principal Street Partners LLC now owns 14,253 shares of the pipeline company’s stock worth $610,000 after buying an additional 1,612 shares in the last quarter. FMR LLC grew its holdings in Mplx by 387.4% during the third quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock worth $36,611,000 after buying an additional 654,500 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Mplx by 3.5% during the third quarter. D.A. Davidson & CO. now owns 25,400 shares of the pipeline company’s stock worth $1,129,000 after buying an additional 862 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Mplx by 130.0% in the third quarter. Brown Brothers Harriman & Co. now owns 17,260 shares of the pipeline company’s stock worth $767,000 after purchasing an additional 9,755 shares during the last quarter. Finally, Independent Advisor Alliance boosted its position in Mplx by 0.6% in the third quarter. Independent Advisor Alliance now owns 69,485 shares of the pipeline company’s stock worth $3,089,000 after purchasing an additional 408 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Trading Down 1.3 %

NYSE:MPLX opened at $49.01 on Friday. Mplx Lp has a 12 month low of $35.51 and a 12 month high of $51.94. The stock has a market cap of $49.93 billion, a price-to-earnings ratio of 11.56, a P/E/G ratio of 3.01 and a beta of 1.42. The company has a 50-day moving average price of $46.09 and a 200-day moving average price of $43.52. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last released 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 firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts predict that Mplx Lp will post 4.18 EPS for the current year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.9565 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.81%. Mplx’s dividend payout ratio (DPR) is presently 90.09%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MPLX. Bank of America began 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. Truist Financial boosted their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. UBS Group boosted their price objective on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company boosted their price objective on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Insider Buying and Selling at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mplx 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.