Robertson Stephens Wealth Management LLC Sells 11,445 Shares of Mplx Lp (NYSE:MPLX)

Robertson Stephens Wealth Management LLC reduced its stake in shares of Mplx Lp (NYSE:MPLX) by 53.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the pipeline company’s stock after selling 11,445 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Mplx were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MPLX. Alps Advisors Inc. lifted its holdings in Mplx by 18.9% during the third quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock valued at $1,023,413,000 after purchasing an additional 4,579,152 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Mplx by 4.0% during the 3rd quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company’s stock valued at $744,036,000 after buying an additional 809,273 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Mplx by 2.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,463,737 shares of the pipeline company’s stock worth $237,348,000 after buying an additional 154,529 shares during the period. UBS Group AG increased its stake in Mplx by 12.2% in the 3rd quarter. UBS Group AG now owns 5,869,436 shares of the pipeline company’s stock worth $208,776,000 after buying an additional 639,199 shares in the last quarter. Finally, Barclays PLC raised its holdings in Mplx by 440.5% during the third quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company’s stock valued at $200,946,000 after acquiring an additional 4,604,066 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Mplx Trading Up 0.0 %

Shares of MPLX opened at $41.11 on Friday. Mplx Lp has a fifty-two week low of $33.12 and a fifty-two week high of $42.90. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.01 and a current ratio of 0.72. The company’s fifty day moving average is $40.77 and its 200 day moving average is $38.15. The stock has a market capitalization of $41.55 billion, a PE ratio of 10.60 and a beta of 1.35.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Mplx Lp will post 4.06 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 8.27%. The ex-dividend date of this dividend is Thursday, May 2nd. Mplx’s payout ratio is 87.63%.

Analyst Ratings Changes

MPLX has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Stifel Nicolaus upped their price target on Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial lifted their price objective on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group raised their target price on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.11.

Mplx 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.