AlphaCore Capital LLC Has $69.77 Million Holdings in Mplx Lp (NYSE:MPLX)

AlphaCore Capital LLC increased its position in shares of Mplx Lp (NYSE:MPLX) by 0.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,569,157 shares of the pipeline company’s stock after purchasing an additional 405 shares during the quarter. Mplx accounts for about 15.7% of AlphaCore Capital LLC’s investment portfolio, making the stock its largest holding. AlphaCore Capital LLC owned about 0.15% of Mplx worth $69,765,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MPLX. CWM LLC raised its position in shares of Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 451 shares during the period. Summit Securities Group LLC lifted its stake in Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after buying an additional 900 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in shares of Mplx during the third quarter valued at $51,000. Redwood Wealth Management Group LLC bought a new position in shares of Mplx during the second quarter worth about $67,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Mplx in the 2nd quarter worth about $88,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the transaction, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mplx Trading Up 1.5 %

Shares of NYSE:MPLX opened at $48.27 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The stock has a market capitalization of $49.18 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.30 and a beta of 1.37. Mplx Lp has a 1-year low of $35.51 and a 1-year high of $48.49. The company has a 50 day moving average price of $44.90 and a 200 day moving average price of $42.89.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. On average, research analysts anticipate that Mplx Lp will post 4.31 EPS for the current fiscal year.

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a dividend of $0.9565 per share. The ex-dividend date was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a yield of 7.93%. Mplx’s dividend payout ratio is currently 90.33%.

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.