TrueMark Investments LLC Has $10.11 Million Stock Holdings in Mplx Lp $MPLX

TrueMark Investments LLC grew its position in Mplx Lp (NYSE:MPLX) by 34.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 202,481 shares of the pipeline company’s stock after purchasing an additional 51,797 shares during the quarter. Mplx makes up 1.8% of TrueMark Investments LLC’s portfolio, making the stock its 4th biggest position. TrueMark Investments LLC’s holdings in Mplx were worth $10,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Mplx by 8.3% in the second quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after acquiring an additional 757,569 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in Mplx by 2.2% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock worth $280,311,000 after acquiring an additional 120,216 shares in the last quarter. Energy Income Partners LLC increased its position in Mplx by 4.5% during the 2nd quarter. Energy Income Partners LLC now owns 5,541,795 shares of the pipeline company’s stock valued at $285,458,000 after purchasing an additional 236,932 shares during the period. Miller Howard Investments Inc. NY raised its holdings in shares of Mplx by 0.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 2,258,674 shares of the pipeline company’s stock valued at $112,821,000 after purchasing an additional 18,538 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Mplx by 1.5% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,205,946 shares of the pipeline company’s stock worth $113,628,000 after purchasing an additional 33,126 shares during the period. Institutional investors own 24.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 price objective on shares of Mplx in a report on Monday, December 1st. Morgan Stanley upped their target price on Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Barclays upped their price objective on Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Mplx Stock Performance

Shares of MPLX stock opened at $55.22 on Friday. Mplx Lp has a 12-month low of $44.60 and a 12-month high of $57.15. The business’s fifty day simple moving average is $54.23 and its 200-day simple moving average is $51.83. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. The company has a market cap of $56.16 billion, a PE ratio of 11.70, a PEG ratio of 5.03 and a beta of 0.56.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.16 billion. Analysts expect that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were paid a dividend of $1.0765 per share. The ex-dividend date was Friday, November 7th. This is a positive change from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.8%. Mplx’s payout ratio is presently 91.31%.

About Mplx

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.