Mplx Lp $MPLX Stake Cut by Fractal Investments LLC

Fractal Investments LLC lessened its stake in shares of Mplx Lp (NYSE:MPLX) by 9.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,051,301 shares of the pipeline company’s stock after selling 205,202 shares during the period. Mplx accounts for about 14.8% of Fractal Investments LLC’s portfolio, making the stock its largest position. Fractal Investments LLC’s holdings in Mplx were worth $102,462,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MPLX. Chickasaw Capital Management LLC boosted its stake in Mplx by 2.2% in the 3rd quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock worth $280,311,000 after buying an additional 120,216 shares during the last quarter. Keudell Morrison Wealth Management acquired a new position in shares of Mplx during the 2nd quarter valued at about $335,000. Hilltop National Bank purchased a new position in shares of Mplx during the 2nd quarter worth about $330,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Mplx in the third quarter worth approximately $990,000. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Mplx in the second quarter valued at approximately $776,894,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Up 1.6%

Shares of NYSE MPLX opened at $53.84 on Tuesday. The stock has a fifty day moving average price of $53.54 and a 200 day moving average price of $51.55. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. Mplx Lp has a 12-month low of $44.60 and a 12-month high of $56.26. The company has a market cap of $54.76 billion, a P/E ratio of 11.41 and a beta of 0.56.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.45. Mplx had a return on equity of 34.14% and a net margin of 37.61%.The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Research analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were issued a $1.0765 dividend. The ex-dividend date was Friday, November 7th. This represents a $4.31 dividend on an annualized basis and a yield of 8.0%. This is a boost from Mplx’s previous quarterly dividend of $0.96. Mplx’s dividend payout ratio (DPR) is currently 91.31%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Zacks Research raised shares of Mplx from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 target price on shares of Mplx in a research report on Monday, December 1st. Weiss Ratings reissued a “buy (a-)” rating on shares of Mplx in a research report on Monday, December 29th. Morgan Stanley raised 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. Finally, Wells Fargo & Company reduced their price objective on Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

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.