Mplx Lp (NYSE:MPLX) is AlphaCore Capital LLC’s Largest Position

AlphaCore Capital LLC boosted its stake in shares of Mplx Lp (NYSE:MPLX) by 0.0% during the third quarter, HoldingsChannel.com reports. The firm owned 1,569,157 shares of the pipeline company’s stock after acquiring an additional 405 shares during the period. Mplx makes up about 15.7% of AlphaCore Capital LLC’s portfolio, making the stock its largest holding. AlphaCore Capital LLC’s holdings in Mplx were worth $69,765,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. ING Groep NV lifted its holdings in shares of Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after buying an additional 2,725,000 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Mplx by 4,274.2% in the second quarter. Strategic Financial Concepts LLC now owns 811,371 shares of the pipeline company’s stock valued at $346,000 after acquiring an additional 792,822 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in Mplx by 2.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock worth $631,435,000 after acquiring an additional 353,324 shares in the last quarter. Energy Income Partners LLC increased its stake in shares of Mplx by 5.1% during the 1st quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock worth $217,148,000 after purchasing an additional 255,211 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Mplx by 17.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock valued at $66,636,000 after purchasing an additional 217,674 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Insider Activity

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. The trade was a 21.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Mplx Stock Performance

NYSE MPLX opened at $48.27 on Friday. The company’s fifty day moving average is $44.90 and its two-hundred day moving average is $42.89. The firm has a market capitalization of $49.18 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.30 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 52-week low of $35.51 and a 52-week high of $48.49.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Mplx Lp will post 4.31 EPS for the current year.

Mplx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.93%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is 90.33%.

Wall Street Analysts Forecast Growth

MPLX has been the subject of a number of recent research reports. Wells Fargo & Company upped their price objective on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Truist Financial upped their price target on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group boosted their target price on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada increased their price target on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

About Mplx

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.