Mplx Lp (NYSE:MPLX) Shares Bought by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC raised its stake in Mplx Lp (NYSE:MPLX - Free Report) by 38.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,143 shares of the pipeline company's stock after acquiring an additional 24,542 shares during the period. Crescent Grove Advisors LLC's holdings in Mplx were worth $4,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Mplx by 141.1% during the fourth quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock worth $95,011,000 after buying an additional 1,161,714 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Mplx during the fourth quarter worth approximately $41,917,000. Neuberger Berman Group LLC boosted its position in shares of Mplx by 221.9% during the fourth quarter. Neuberger Berman Group LLC now owns 643,995 shares of the pipeline company's stock worth $30,822,000 after buying an additional 443,910 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Mplx by 21.0% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,822,709 shares of the pipeline company's stock worth $97,551,000 after buying an additional 315,747 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Mplx by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock worth $330,448,000 after buying an additional 266,998 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPLX has been the subject of several analyst reports. Royal Bank Of Canada boosted their price objective on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. Wall Street Zen downgraded Mplx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Morgan Stanley upped their target price on Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 11th. Finally, Barclays cut their target price on Mplx from $55.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.50.

Mplx Stock Performance

MPLX opened at $51.59 on Friday. The company has a market capitalization of $52.66 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.59 and a beta of 0.74. Mplx Lp has a 1-year low of $39.95 and a 1-year high of $54.87. The business has a 50 day moving average price of $51.10 and a two-hundred day moving average price of $51.08. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 1.04.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. The company had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $3.15 billion. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The firm's revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. Research analysts predict that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were issued a $0.9565 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.83 annualized dividend and a dividend yield of 7.42%. Mplx's dividend payout ratio is currently 88.45%.

Mplx Company Profile

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.

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