Kayne Anderson Capital Advisors LP Has $255 Million Stake in Mplx Lp (NYSE:MPLX)

Kayne Anderson Capital Advisors LP raised its holdings in Mplx Lp (NYSE:MPLX) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,735,562 shares of the pipeline company’s stock after purchasing an additional 45,271 shares during the quarter. Mplx accounts for about 6.5% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 6th biggest position. Kayne Anderson Capital Advisors LP’s holdings in Mplx were worth $255,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. ING Groep NV boosted its position in shares of Mplx by 69.8% in the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after acquiring an additional 2,725,000 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of Mplx by 7.4% in the third quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock valued at $12,488,000 after buying an additional 19,320 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Mplx by 47.4% in the first quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock valued at $2,150,000 after buying an additional 16,637 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Mplx by 22.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock worth $3,487,000 after buying an additional 14,782 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in Mplx by 27.2% during the 3rd quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock worth $2,318,000 after acquiring an additional 11,144 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Performance

NYSE:MPLX opened at $47.02 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a fifty-two week low of $35.31 and a fifty-two week high of $47.62. The company has a 50 day simple moving average of $44.51 and a two-hundred day simple moving average of $42.73. The company has a market capitalization of $47.99 billion, a PE ratio of 11.09, a P/E/G ratio of 1.28 and a beta of 1.37.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. Mplx’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Mplx Lp will post 4.31 earnings per share for the current year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a dividend of $0.9565 per share. The ex-dividend date was Friday, November 8th. This represents a $3.83 annualized dividend and a yield of 8.14%. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is currently 90.33%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group boosted their price target on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their price objective on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays increased their target price on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.44.

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.