Addis & Hill Inc Acquires 357 Shares of Mplx Lp (NYSE:MPLX)

Addis & Hill Inc grew its holdings in shares of Mplx Lp (NYSE:MPLX) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,462 shares of the pipeline company’s stock after purchasing an additional 357 shares during the quarter. Mplx comprises about 0.5% of Addis & Hill Inc’s investment portfolio, making the stock its 22nd biggest position. Addis & Hill Inc’s holdings in Mplx were worth $599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. lifted its position in Mplx by 47.4% during the 1st quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock worth $2,150,000 after acquiring an additional 16,637 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Mplx by 22.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock worth $3,487,000 after purchasing an additional 14,782 shares during the period. GSA Capital Partners LLP bought a new position in shares of Mplx during the 1st quarter worth about $799,000. Envestnet Asset Management Inc. increased its holdings in shares of Mplx by 40.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 361,257 shares of the pipeline company’s stock worth $15,386,000 after purchasing an additional 104,218 shares during the period. Finally, &PARTNERS bought a new position in shares of Mplx during the 2nd quarter worth about $308,000. Institutional investors own 24.25% of the company’s stock.

Analyst Upgrades and Downgrades

MPLX has been the topic of several research reports. Royal Bank of Canada boosted 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. Wells Fargo & Company upped their target price on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. UBS Group upped their target price on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Barclays upped their target price on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $47.67.

Mplx Price Performance

Shares of MPLX stock opened at $44.20 on Friday. Mplx Lp has a 1 year low of $35.06 and a 1 year high of $45.24. The firm’s 50 day moving average is $43.83 and its 200-day moving average is $42.37. The firm has a market capitalization of $45.11 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.21 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.41.

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

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a $0.9565 dividend. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a yield of 8.66%. The ex-dividend date is Friday, November 8th. Mplx’s dividend payout ratio is currently 82.52%.

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.