Kayne Anderson Capital Advisors LP lowered its position in shares of Mplx Lp (NYSE:MPLX) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,586,864 shares of the pipeline company’s stock after selling 232,958 shares during the period. Mplx makes up approximately 4.7% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 6th largest position. Kayne Anderson Capital Advisors LP owned about 2.55% of Mplx worth $370,628,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of Mplx by 1,089.4% during the third quarter. SG Americas Securities LLC now owns 83,880 shares of the pipeline company’s stock worth $2,937,000 after acquiring an additional 76,828 shares during the period. Commonwealth Equity Services Inc increased its stake in shares of Mplx by 150.9% during the third quarter. Commonwealth Equity Services Inc now owns 46,024 shares of the pipeline company’s stock worth $1,611,000 after acquiring an additional 27,682 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Mplx by 33.2% during the third quarter. Advisors Asset Management Inc. now owns 53,402 shares of the pipeline company’s stock worth $1,870,000 after acquiring an additional 13,314 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Mplx by 1.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 150,240 shares of the pipeline company’s stock worth $5,260,000 after buying an additional 2,000 shares during the period. Finally, Comerica Bank grew its position in Mplx by 27.6% during the third quarter. Comerica Bank now owns 12,696 shares of the pipeline company’s stock worth $448,000 after buying an additional 2,747 shares during the period. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Several research analysts have weighed in on MPLX shares. Royal Bank Of Canada restated a “buy” rating and set a $46.00 target price on shares of Mplx in a research report on Wednesday, November 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $42.00 price target (down previously from $43.00) on shares of Mplx in a report on Tuesday, September 5th. BidaskClub downgraded shares of Mplx from a “sell” rating to a “strong sell” rating in a report on Friday, October 13th. UBS upped their price target on shares of Mplx from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, Mizuho reaffirmed a “buy” rating and set a $40.00 price target on shares of Mplx in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $41.67.
Mplx Lp (NYSE:MPLX) traded up $0.37 on Thursday, reaching $36.06. 1,088,720 shares of the company were exchanged, compared to its average volume of 1,409,814. The firm has a market cap of $15,136.19, a price-to-earnings ratio of 40.04, a price-to-earnings-growth ratio of 4.97 and a beta of 1.36. Mplx Lp has a 1-year low of $30.88 and a 1-year high of $39.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.48 and a current ratio of 0.54.
Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Mplx had a net margin of 16.79% and a return on equity of 5.87%. The firm had revenue of $980.00 million for the quarter, compared to the consensus estimate of $965.07 million. During the same period in the prior year, the firm posted $0.21 EPS. The firm’s revenue was up 16.9% compared to the same quarter last year. analysts forecast that Mplx Lp will post 1.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were given a $0.5875 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.56. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date of this dividend was Friday, November 3rd. Mplx’s dividend payout ratio (DPR) is presently 258.24%.
In related news, VP Gregory Scott Floerke sold 2,000 shares of Mplx stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $36.00, for a total value of $72,000.00. Following the sale, the vice president now directly owns 79,598 shares in the company, valued at approximately $2,865,528. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP C Corwin Bromley sold 2,500 shares of Mplx stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $86,250.00. Following the completion of the sale, the vice president now owns 123,705 shares in the company, valued at $4,267,822.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,000 shares of company stock worth $487,670.
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MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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