Chickasaw Capital Management LLC Has $266.41 Million Position in Mplx Lp (NYSE:MPLX)

Chickasaw Capital Management LLC cut its holdings in Mplx Lp (NYSE:MPLX) by 0.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,566,358 shares of the pipeline company’s stock after selling 13,694 shares during the period. Mplx comprises approximately 10.8% of Chickasaw Capital Management LLC’s holdings, making the stock its 3rd biggest position. Chickasaw Capital Management LLC owned 0.55% of Mplx worth $266,406,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MPLX. Bank of New York Mellon Corp increased its holdings in shares of Mplx by 11.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,925 shares of the pipeline company’s stock valued at $678,000 after acquiring an additional 1,670 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Mplx by 10.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 98,066 shares of the pipeline company’s stock valued at $4,177,000 after purchasing an additional 9,585 shares during the period. Savant Capital LLC grew its holdings in Mplx by 7.7% in the 2nd quarter. Savant Capital LLC now owns 14,636 shares of the pipeline company’s stock valued at $623,000 after buying an additional 1,052 shares during the last quarter. Strategic Financial Concepts LLC increased its position in Mplx by 4,274.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 811,371 shares of the pipeline company’s stock worth $346,000 after buying an additional 792,822 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Mplx in the second quarter valued at approximately $805,000. Institutional investors own 24.25% of the company’s stock.

Insider Transactions at Mplx

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MPLX. Barclays raised their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Bank of America began coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price on the stock. UBS Group boosted their price target 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. Truist Financial boosted their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.56.

Mplx Price Performance

Mplx stock traded down $0.63 during trading hours on Tuesday, reaching $47.89. 1,369,525 shares of the stock were exchanged, compared to its average volume of 1,623,148. Mplx Lp has a twelve month low of $36.76 and a twelve month high of $51.94. The company has a market cap of $48.79 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 2.91 and a beta of 1.43. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average of $47.72 and a two-hundred day moving average of $44.68.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.89 earnings per share. Equities analysts expect that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.9565 dividend. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.99%. Mplx’s dividend payout ratio is presently 90.09%.

About Mplx

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.