Evergreen Capital Management LLC Sells 20,647 Shares of Mplx Lp $MPLX

Key Points

• Evergreen Capital Management LLC reduced its stake in MPLX LP by 9.6% in the first quarter, now holding 195,263 shares valued at approximately $10.45 million.
• Several institutional investors have increased their holdings in MPLX, including Kayne Anderson Capital Advisors, which raised its stake by 38.2%, totaling 7,788,063 shares valued at $416.8 million.
• MPLX reported a quarterly EPS of $1.03, missing estimates, with revenue of $2.79 billion, a decline of 1.6% year-over-year, while it also announced a dividend of $0.9565 per share, yielding 7.6% annually.

Evergreen Capital Management LLC lessened its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 9.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 195,263 shares of the pipeline company's stock after selling 20,647 shares during the quarter. Evergreen Capital Management LLC's holdings in Mplx were worth $10,450,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MPLX. First Trust Advisors LP boosted its stake in shares of Mplx by 8.8% in the 4th quarter. First Trust Advisors LP now owns 96,731 shares of the pipeline company's stock valued at $4,630,000 after purchasing an additional 7,804 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Mplx by 2.4% in the 4th quarter. Integrated Wealth Concepts LLC now owns 15,340 shares of the pipeline company's stock valued at $734,000 after purchasing an additional 364 shares during the last quarter. Lido Advisors LLC boosted its stake in shares of Mplx by 85.1% in the 4th quarter. Lido Advisors LLC now owns 33,545 shares of the pipeline company's stock valued at $1,605,000 after purchasing an additional 15,424 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Mplx by 58.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 104,156 shares of the pipeline company's stock worth $4,985,000 after acquiring an additional 38,241 shares during the last quarter. Finally, Aptus Capital Advisors LLC bought a new position in Mplx during the 4th quarter worth approximately $223,000. Institutional investors own 24.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MPLX shares. Wall Street Zen lowered shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays lifted their price objective on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Morgan Stanley lifted their price objective on shares of Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 26th. Finally, Stifel Nicolaus raised their target price on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.89.

Mplx Stock Down 0.3%

Shares of NYSE MPLX traded down $0.13 during midday trading on Wednesday, reaching $50.84. The company's stock had a trading volume of 530,856 shares, compared to its average volume of 1,597,235. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40. Mplx Lp has a fifty-two week low of $42.29 and a fifty-two week high of $54.87. The stock has a market capitalization of $51.81 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.36 and a beta of 0.74. The stock has a 50 day simple moving average of $50.84 and a 200-day simple moving average of $51.33.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. Mplx had a net margin of 35.44% and a return on equity of 30.95%. Mplx's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $1.15 earnings per share. Equities research analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were issued a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date was Friday, August 8th. Mplx's payout ratio is presently 90.97%.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.