Turtle Creek Wealth Advisors LLC Has $7.17 Million Holdings in Mplx Lp $MPLX

Turtle Creek Wealth Advisors LLC lifted its position in Mplx Lp (NYSE:MPLX) by 159.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 143,501 shares of the pipeline company’s stock after acquiring an additional 88,292 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Mplx were worth $7,168,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Chickasaw Capital Management LLC raised its holdings in shares of Mplx by 2.2% in the 3rd quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock valued at $280,311,000 after purchasing an additional 120,216 shares during the period. Keudell Morrison Wealth Management bought a new position in Mplx during the second quarter worth about $335,000. Hilltop National Bank acquired a new position in Mplx during the second quarter worth approximately $330,000. Fort Washington Investment Advisors Inc. OH bought a new stake in Mplx in the third quarter valued at approximately $990,000. Finally, Catalyst Capital Advisors LLC lifted its position in shares of Mplx by 4.2% in the second quarter. Catalyst Capital Advisors LLC now owns 364,486 shares of the pipeline company’s stock valued at $18,775,000 after buying an additional 14,524 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Up 1.1%

MPLX stock opened at $56.57 on Tuesday. Mplx Lp has a fifty-two week low of $44.60 and a fifty-two week high of $56.71. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a market capitalization of $57.54 billion, a price-to-earnings ratio of 11.99 and a beta of 0.56. The business’s fifty day moving average price is $53.98 and its two-hundred day moving average price is $51.71.

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

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were given a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Friday, November 7th. This is a boost from Mplx’s previous quarterly dividend of $0.96. Mplx’s dividend payout ratio (DPR) is currently 91.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays boosted their target price on Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a research report on Monday, December 29th. Raymond James Financial lowered shares of Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada lifted their target price on shares of Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Mplx Company 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.