Robertson Stephens Wealth Management LLC Purchases 3,139 Shares of Mplx Lp (NYSE:MPLX)

Robertson Stephens Wealth Management LLC lifted its position in shares of Mplx Lp (NYSE:MPLX) by 37.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,532 shares of the pipeline company’s stock after purchasing an additional 3,139 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Mplx were worth $552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MPLX. ING Groep NV boosted its position in shares of Mplx by 69.8% during the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after purchasing an additional 2,725,000 shares in the last quarter. FMR LLC lifted its position in Mplx by 387.4% in the 3rd quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock valued at $36,611,000 after acquiring an additional 654,500 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Mplx by 17.0% in 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 acquiring an additional 217,674 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Mplx in the 3rd quarter valued at $8,644,000. Finally, Walnut Private Equity Partners LLC lifted its position in Mplx by 479.6% in the 4th quarter. Walnut Private Equity Partners LLC now owns 153,600 shares of the pipeline company’s stock valued at $7,351,000 after acquiring an additional 127,100 shares in the last quarter. 24.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MPLX has been the topic of several research reports. Bank of America initiated coverage on shares of Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. UBS Group boosted their price objective on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Barclays boosted their price objective on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Truist Financial lifted their price target on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.11.

Mplx Stock Down 0.6 %

Mplx stock opened at $53.20 on Friday. The firm has a market capitalization of $54.20 billion, a PE ratio of 12.55, a P/E/G ratio of 2.33 and a beta of 1.42. The company’s 50-day moving average is $49.62 and its 200-day moving average is $46.02. Mplx Lp has a fifty-two week low of $37.58 and a fifty-two week high of $54.18. 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 (NYSE:MPLX) last released its quarterly earnings data 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 company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. Mplx’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 EPS. Sell-side analysts anticipate that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.9565 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.83 annualized dividend and a dividend yield of 7.19%. Mplx’s dividend payout ratio is presently 90.33%.

Insider Transactions at Mplx

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

Mplx Company 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.