5,381 Shares in Mplx Lp (NYSE:MPLX) Bought by Rockbridge Capital Management LLC

Rockbridge Capital Management LLC purchased a new stake in Mplx Lp (NYSE:MPLX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,381 shares of the pipeline company's stock, valued at approximately $258,000. Mplx makes up approximately 0.1% of Rockbridge Capital Management LLC's investment portfolio, making the stock its 22nd largest holding.

A number of other institutional investors have also added to or reduced their stakes in MPLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Mplx by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock valued at $330,448,000 after purchasing an additional 266,998 shares during the period. BROOKFIELD Corp ON increased its stake in shares of Mplx by 1.9% in the fourth quarter. BROOKFIELD Corp ON now owns 4,221,615 shares of the pipeline company's stock valued at $202,047,000 after buying an additional 79,799 shares during the period. FMR LLC raised 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 acquiring an additional 1,161,714 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its stake in shares of Mplx by 2.0% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,971,331 shares of the pipeline company's stock worth $94,348,000 after acquiring an additional 37,845 shares during the period. Finally, Eagle Global Advisors LLC boosted its holdings in Mplx by 14.6% in the fourth quarter. Eagle Global Advisors LLC now owns 1,857,003 shares of the pipeline company's stock valued at $88,876,000 after acquiring an additional 235,977 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MPLX. Wells Fargo & Company boosted their price target on shares of Mplx from $54.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. StockNews.com downgraded Mplx from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Morgan Stanley lifted their price objective on Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 11th. Royal Bank of Canada upped their target price on Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Monday, March 17th. Finally, Raymond James lifted their target price on Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $55.50.

Mplx Stock Performance

Shares of NYSE MPLX traded down $0.20 during midday trading on Tuesday, hitting $51.64. The company's stock had a trading volume of 356,195 shares, compared to its average volume of 1,865,730. The stock has a fifty day moving average price of $51.18 and a 200 day moving average price of $50.48. The firm has a market capitalization of $52.80 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.69 and a beta of 0.76. Mplx Lp has a one year low of $39.95 and a one year high of $54.87. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $3.15 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, research analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were issued a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date was Friday, May 9th. Mplx's payout ratio is 88.22%.

Insider Activity

In other Mplx news, VP Shawn M. Lyon purchased 4,000 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $52.75 per share, with a total value of $211,000.00. Following the acquisition, the vice president now directly owns 25,299 shares in the company, valued at approximately $1,334,522.25. The trade was a 18.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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.