B. Riley Wealth Advisors Inc. Reduces Stock Holdings in Mplx Lp (NYSE:MPLX)

B. Riley Wealth Advisors Inc. decreased its holdings in shares of Mplx Lp (NYSE:MPLX) by 73.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,289 shares of the pipeline company’s stock after selling 60,370 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Mplx were worth $947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors boosted its holdings in Mplx by 0.4% in the 3rd quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock valued at $2,689,000 after purchasing an additional 231 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Mplx by 1.4% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock valued at $876,000 after purchasing an additional 268 shares during the period. Cherry Creek Investment Advisors Inc. boosted its stake in shares of Mplx by 2.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock valued at $632,000 after buying an additional 279 shares during the period. FORA Capital LLC lifted its stake in Mplx by 2.2% in the third quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock worth $681,000 after acquiring an additional 332 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its stake in shares of Mplx by 3.9% during the third quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock worth $396,000 after purchasing an additional 338 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on MPLX. Barclays upped their target price on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. UBS Group increased their target price on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Truist Financial upped their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 22nd. Finally, Bank of America began coverage on shares of Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and an average price target of $49.44.

Mplx Trading Down 0.0 %

Shares of NYSE MPLX opened at $47.69 on Wednesday. Mplx Lp has a fifty-two week low of $36.27 and a fifty-two week high of $51.94. The company’s 50 day simple moving average is $46.69 and its 200 day simple moving average is $44.01. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a market capitalization of $48.59 billion, a P/E ratio of 11.25, a P/E/G ratio of 2.87 and a beta of 1.42.

Mplx (NYSE:MPLX) last released its quarterly 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). The firm 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 revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. On average, analysts predict that Mplx Lp will post 4.18 EPS for the current year.

Mplx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date was Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is currently 90.09%.

Insider Transactions at Mplx

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

About Mplx

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.