CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Increases Stock Position in Mplx Lp (NYSE:MPLX)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Mplx Lp (NYSE:MPLX) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,506,962 shares of the pipeline company’s stock after acquiring an additional 8,166 shares during the period. Mplx makes up approximately 4.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 9th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.15% of Mplx worth $72,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MPLX. Glenmede Trust Co. NA grew its position in Mplx by 7.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 149,509 shares of the pipeline company’s stock worth $6,647,000 after purchasing an additional 10,000 shares during the period. MML Investors Services LLC grew its holdings in shares of Mplx by 387.5% in the third quarter. MML Investors Services LLC now owns 23,543 shares of the pipeline company’s stock worth $1,047,000 after acquiring an additional 18,714 shares during the period. Catalyst Capital Advisors LLC increased its position in shares of Mplx by 7.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock valued at $12,488,000 after purchasing an additional 19,320 shares during the last quarter. ING Groep NV increased its holdings in Mplx by 69.8% during the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after buying an additional 2,725,000 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in Mplx by 5.3% in the 3rd quarter. Stifel Financial Corp now owns 1,276,828 shares of the pipeline company’s stock worth $56,768,000 after purchasing an additional 64,714 shares during the period. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Up 0.0 %

NYSE MPLX opened at $51.90 on Friday. The stock has a 50 day moving average price of $48.93 and a 200-day moving average price of $45.34. Mplx Lp has a one year low of $37.04 and a one year high of $53.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The company has a market capitalization of $52.87 billion, a P/E ratio of 12.24, a P/E/G ratio of 2.34 and a beta of 1.43.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the business earned $0.89 EPS. Mplx’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.9565 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.83 annualized dividend and a yield of 7.37%. Mplx’s payout ratio is currently 90.33%.

Insider Buying and Selling at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the sale, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MPLX shares. Wells Fargo & Company increased their target price on shares of Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Truist Financial raised their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Barclays upped their target price on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 19th. Finally, Royal Bank of Canada increased their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mplx has an average rating of “Moderate Buy” and a consensus price target of $49.89.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.