Evercore Wealth Management LLC Purchases 20,000 Shares of Mplx Lp (NYSE:MPLX)

Evercore Wealth Management LLC increased its stake in Mplx Lp (NYSE:MPLX) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,053 shares of the pipeline company’s stock after buying an additional 20,000 shares during the quarter. Evercore Wealth Management LLC’s holdings in Mplx were worth $6,320,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. VSM Wealth Advisory LLC acquired a new stake in Mplx in the fourth quarter valued at approximately $31,000. Geneos Wealth Management Inc. boosted its position in Mplx by 56.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after purchasing an additional 409 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in Mplx in the fourth quarter valued at $56,000. Russell Investments Group Ltd. grew its holdings in Mplx by 139.6% in the fourth quarter. Russell Investments Group Ltd. now owns 1,785 shares of the pipeline company’s stock valued at $85,000 after purchasing an additional 1,040 shares during the period. Finally, RE Dickinson Investment Advisors LLC raised its position in Mplx by 11.5% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company’s stock worth $96,000 after acquiring an additional 208 shares during the period. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Insider Buying and Selling

In other Mplx news, VP Shawn M. Lyon purchased 4,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $52.75 per share, with a total value of $211,000.00. Following the completion of the acquisition, the vice president now directly owns 25,299 shares of the company’s stock, valued at $1,334,522.25. This trade represents a 18.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mplx Trading Up 3.0 %

MPLX opened at $50.68 on Wednesday. The business’s 50 day moving average price is $52.06 and its 200 day moving average price is $49.54. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The stock has a market capitalization of $51.82 billion, a PE ratio of 12.04, a P/E/G ratio of 1.69 and a beta of 1.11. Mplx Lp has a one year low of $39.84 and a one year high of $54.87.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS. As a group, equities research analysts expect that Mplx Lp will post 4.41 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on MPLX shares. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Wells Fargo & Company boosted their price target on shares of Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price objective on shares of Mplx from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, March 17th. Barclays boosted their target price on Mplx from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, Morgan Stanley upped their price target on Mplx from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.00.

Mplx Company Profile

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.