Adell Harriman & Carpenter Inc. Acquires 9,545 Shares of Mplx Lp (NYSE:MPLX)

Adell Harriman & Carpenter Inc. boosted its holdings in Mplx Lp (NYSE:MPLX) by 19.2% during the third quarter, HoldingsChannel.com reports. The fund owned 59,255 shares of the pipeline company’s stock after purchasing an additional 9,545 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Mplx were worth $2,634,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Mplx by 2.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock valued at $631,435,000 after purchasing an additional 353,324 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in Mplx by 0.6% in the third quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company’s stock valued at $248,089,000 after buying an additional 34,659 shares in the last quarter. Energy Income Partners LLC raised its stake in shares of Mplx by 5.1% in the first quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock valued at $217,148,000 after acquiring an additional 255,211 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Mplx by 4.0% in the first quarter. Clearbridge Investments LLC now owns 5,200,759 shares of the pipeline company’s stock valued at $216,144,000 after acquiring an additional 201,500 shares during the last quarter. Finally, Miller Howard Investments Inc. NY grew its position in Mplx by 7.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,571,817 shares of the pipeline company’s stock worth $109,534,000 after acquiring an additional 186,084 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Up 2.2 %

Shares of NYSE MPLX opened at $44.75 on Wednesday. The firm has a 50 day moving average price of $43.72 and a 200 day moving average price of $42.31. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99. The stock has a market cap of $45.47 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.21 and a beta of 1.37. Mplx Lp has a 52-week low of $35.06 and a 52-week high of $45.24.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.17. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts expect that Mplx Lp will post 4.3 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on MPLX shares. UBS Group lifted their price objective on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada increased their price objective on shares of Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays upped their target price on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America started coverage on shares of Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mplx presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.67.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.