Kayne Anderson Capital Advisors LP Has $269.67 Million Stock Position in Mplx Lp (NYSE:MPLX)

Kayne Anderson Capital Advisors LP lowered its position in shares of Mplx Lp (NYSE:MPLX) by 1.8% in the fourth quarter, HoldingsChannel reports. The fund owned 5,634,573 shares of the pipeline company’s stock after selling 100,989 shares during the period. Mplx accounts for approximately 6.4% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 6th largest holding. Kayne Anderson Capital Advisors LP’s holdings in Mplx were worth $269,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of Mplx by 3.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 44,894 shares of the pipeline company’s stock worth $1,996,000 after purchasing an additional 1,338 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in shares of Mplx during the 3rd quarter worth about $229,000. Oppenheimer Asset Management Inc. increased its stake in shares of Mplx by 12.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 33,171 shares of the pipeline company’s stock valued at $1,475,000 after acquiring an additional 3,550 shares during the last quarter. Curi RMB Capital LLC boosted its stake in Mplx by 2.6% during the 3rd quarter. Curi RMB Capital LLC now owns 25,095 shares of the pipeline company’s stock worth $1,116,000 after acquiring an additional 639 shares during the last quarter. Finally, ING Groep NV boosted its stake in Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after acquiring an additional 2,725,000 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 0.3 %

Shares of MPLX stock opened at $52.50 on Wednesday. Mplx Lp has a 12-month low of $39.56 and a 12-month high of $54.79. The company has a 50 day moving average of $51.84 and a 200-day moving average of $47.88. The firm has a market cap of $53.69 billion, a P/E ratio of 12.47, a PEG ratio of 1.69 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Sell-side analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.9565 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.29%. Mplx’s dividend payout ratio is currently 90.74%.

Insider Transactions at Mplx

In other news, VP Shawn M. Lyon bought 4,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $52.75 per share, for a total transaction of $211,000.00. Following the completion of the purchase, the vice president now owns 25,299 shares in the company, valued at approximately $1,334,522.25. This represents a 18.78 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada lifted their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Barclays increased their price objective on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. UBS Group lifted their price target on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.10.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.