Mplx Lp $MPLX is Miller Howard Investments Inc. NY’s Largest Position

Miller Howard Investments Inc. NY grew its stake in Mplx Lp (NYSE:MPLX) by 0.8% in the third quarter, Holdings Channel reports. The fund owned 2,258,674 shares of the pipeline company’s stock after purchasing an additional 18,538 shares during the period. Mplx accounts for about 3.4% of Miller Howard Investments Inc. NY’s portfolio, making the stock its largest holding. Miller Howard Investments Inc. NY’s holdings in Mplx were worth $112,821,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC increased its position in shares of Mplx by 10.0% during the third quarter. ORG Partners LLC now owns 7,995 shares of the pipeline company’s stock worth $401,000 after acquiring an additional 728 shares during the period. MADDEN SECURITIES Corp increased its position in shares of Mplx by 12.3% during the third quarter. MADDEN SECURITIES Corp now owns 5,635 shares of the pipeline company’s stock worth $281,000 after purchasing an additional 618 shares in the last quarter. Trueblood Wealth Management LLC lifted its holdings in shares of Mplx by 2.7% in the 3rd quarter. Trueblood Wealth Management LLC now owns 9,550 shares of the pipeline company’s stock valued at $477,000 after purchasing an additional 255 shares during the last quarter. Capital Investment Advisors LLC boosted its position in shares of Mplx by 8.8% in the 3rd quarter. Capital Investment Advisors LLC now owns 9,105 shares of the pipeline company’s stock valued at $455,000 after purchasing an additional 738 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new position in Mplx during the 3rd quarter worth approximately $205,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays upped their price target on Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 target price on shares of Mplx in a research report on Monday, December 1st. Morgan Stanley lifted their price objective on Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Royal Bank Of Canada raised their target price on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Mplx Stock Performance

Shares of NYSE:MPLX opened at $52.97 on Friday. The business has a 50-day moving average of $53.48 and a two-hundred day moving average of $51.53. The firm has a market capitalization of $53.87 billion, a PE ratio of 11.22 and a beta of 0.56. Mplx Lp has a 12 month low of $44.60 and a 12 month high of $56.26. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.31 and a quick ratio of 1.26.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.45. Mplx had a return on equity of 34.14% and a net margin of 37.61%.The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.16 billion. As a group, research analysts forecast that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were given a dividend of $1.0765 per share. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 annualized dividend and a dividend yield of 8.1%. Mplx’s dividend payout ratio is 91.10%.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.