Evergreen Capital Management LLC Reduces Stock Holdings in Mplx Lp $MPLX

Evergreen Capital Management LLC cut its holdings in Mplx Lp (NYSE:MPLX) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,944 shares of the pipeline company’s stock after selling 9,344 shares during the period. Evergreen Capital Management LLC’s holdings in Mplx were worth $9,338,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Private Wealth Asset Management LLC acquired a new position in Mplx during the second quarter worth about $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Mplx during the 2nd quarter worth approximately $26,000. FSC Wealth Advisors LLC purchased a new position in shares of Mplx during the 2nd quarter worth approximately $29,000. Operose Advisors LLC raised its position in shares of Mplx by 216.2% during the 2nd quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Finally, EQ Wealth Advisors LLC purchased a new stake in Mplx in the 2nd quarter valued at approximately $31,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MPLX shares. Barclays raised their price target on Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley lifted their price objective on Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Wells Fargo & Company reduced their target price on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, September 23rd. Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. Finally, Royal Bank Of Canada boosted their price objective on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Mplx Trading Up 1.1%

NYSE MPLX opened at $56.57 on Friday. The company has a market cap of $57.54 billion, a P/E ratio of 11.99 and a beta of 0.56. Mplx Lp has a 12 month low of $44.60 and a 12 month high of $56.71. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.31 and a quick ratio of 1.26. The company has a 50-day moving average of $53.88 and a 200-day moving average of $51.66.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. Mplx had a net margin of 37.61% and a return on equity of 34.14%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.16 billion. As a group, equities analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were issued a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Friday, November 7th. This is a positive change from Mplx’s previous quarterly dividend of $0.96. Mplx’s payout ratio is currently 91.10%.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.