Eagle Global Advisors LLC Has $96.76 Million Stock Holdings in Mplx Lp $MPLX

Eagle Global Advisors LLC increased its stake in Mplx Lp (NYSE:MPLX) by 0.9% in the 3rd quarter, Holdings Channel reports. The fund owned 1,937,055 shares of the pipeline company’s stock after buying an additional 17,490 shares during the quarter. Mplx comprises about 3.7% of Eagle Global Advisors LLC’s holdings, making the stock its 3rd largest position. Eagle Global Advisors LLC’s holdings in Mplx were worth $96,756,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MPLX. JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 price objective on shares of Mplx in a report on Monday, December 1st. Wells Fargo & Company decreased their target price on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 23rd. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a research note on Monday, December 29th. Finally, Raymond James Financial downgraded Mplx from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Mplx Price Performance

Shares of Mplx stock opened at $55.54 on Thursday. The firm has a market cap of $56.49 billion, a PE ratio of 11.77 and a beta of 0.56. Mplx Lp has a 12-month low of $44.60 and a 12-month high of $56.26. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.66. The company’s fifty day simple moving average is $53.69 and its two-hundred day simple moving average is $51.60.

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

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were issued a $1.0765 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.96. The ex-dividend date was Friday, November 7th. This represents a $4.31 annualized dividend and a yield of 7.8%. Mplx’s dividend payout ratio (DPR) is 91.31%.

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.