Chickasaw Capital Management LLC Has $289.79 Million Position in Mplx Lp $MPLX

Chickasaw Capital Management LLC lowered its position in Mplx Lp (NYSE:MPLX) by 3.2% in the 4th quarter, HoldingsChannel reports. The fund owned 5,429,906 shares of the pipeline company’s stock after selling 181,918 shares during the period. Mplx accounts for about 11.9% of Chickasaw Capital Management LLC’s holdings, making the stock its 2nd biggest position. Chickasaw Capital Management LLC’s holdings in Mplx were worth $289,794,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clear Trail Advisors LLC bought a new position in Mplx during the fourth quarter worth about $1,603,000. SG Americas Securities LLC increased its stake in shares of Mplx by 334.6% in the fourth quarter. SG Americas Securities LLC now owns 10,695 shares of the pipeline company’s stock worth $571,000 after purchasing an additional 8,234 shares in the last quarter. Diversified Trust Co. bought a new stake in shares of Mplx in the fourth quarter valued at approximately $666,000. Teamwork Financial Advisors LLC purchased a new stake in shares of Mplx during the 4th quarter valued at approximately $209,000. Finally, Ulland Investment Advisors LLC lifted its stake in shares of Mplx by 66.7% during the 4th quarter. Ulland Investment Advisors LLC now owns 5,000 shares of the pipeline company’s stock valued at $267,000 after buying an additional 2,000 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Price Performance

Shares of NYSE:MPLX opened at $58.46 on Tuesday. The company has a 50 day moving average of $57.04 and a 200 day moving average of $53.74. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. The stock has a market cap of $59.35 billion, a P/E ratio of 12.13, a P/E/G ratio of 5.29 and a beta of 0.56. Mplx Lp has a 12 month low of $44.60 and a 12 month high of $59.84.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.07. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the prior year, the company posted $1.07 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a $1.0765 dividend. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date was Monday, February 9th. Mplx’s dividend payout ratio (DPR) is 89.42%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MPLX shares. Raymond James Financial lowered shares of Mplx from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. increased their target price on Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Wells Fargo & Company raised their price target on Mplx from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. UBS Group lifted their price target on Mplx from $64.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Finally, Wall Street Zen raised Mplx from a “hold” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.88.

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.