Envestnet Asset Management Inc. Has $13.19 Million Stake in Mplx Lp $MPLX

Envestnet Asset Management Inc. grew its position in Mplx Lp (NYSE:MPLX) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,015 shares of the pipeline company’s stock after acquiring an additional 4,878 shares during the period. Envestnet Asset Management Inc.’s holdings in Mplx were worth $13,187,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new stake in Mplx during the 2nd quarter valued at $776,894,000. Goldman Sachs Group Inc. boosted its stake in Mplx by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company’s stock worth $730,506,000 after purchasing an additional 83,392 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of Mplx by 38.2% during the first quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company’s stock worth $416,817,000 after purchasing an additional 2,153,490 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Mplx by 0.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,456 shares of the pipeline company’s stock valued at $372,256,000 after buying an additional 50,979 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Mplx by 14.9% in the first quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company’s stock valued at $270,060,000 after buying an additional 654,489 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Performance

Mplx stock opened at $51.21 on Friday. The company has a market cap of $52.19 billion, a PE ratio of 10.85, a PEG ratio of 1.55 and a beta of 0.71. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 1.66. Mplx Lp has a 1 year low of $44.60 and a 1 year high of $54.87. The company’s 50-day moving average is $50.24 and its two-hundred day moving average is $50.71.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.07 by $0.45. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Mplx had a net margin of 37.61% and a return on equity of 34.14%. Equities analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be given a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Friday, November 7th. This is a positive change from Mplx’s previous quarterly dividend of $0.96. Mplx’s dividend payout ratio is presently 90.97%.

Wall Street Analyst Weigh In

MPLX has been the topic of several research reports. Morgan Stanley upped their price target on shares of Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 26th. Weiss Ratings downgraded shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 8th. Zacks Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 8th. Stifel Nicolaus raised their price target on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company dropped their price objective on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, September 23rd. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $57.50.

Mplx 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.