Mplx Lp (NYSE:MPLX) Stock Position Lowered by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC lowered its position in shares of Mplx Lp (NYSE:MPLX) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,566,358 shares of the pipeline company’s stock after selling 13,694 shares during the period. Mplx accounts for about 10.8% of Chickasaw Capital Management LLC’s holdings, making the stock its 3rd biggest position. Chickasaw Capital Management LLC’s holdings in Mplx were worth $266,406,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cedar Wealth Management LLC purchased a new stake in Mplx in the third quarter worth about $51,000. Redwood Wealth Management Group LLC bought a new stake in shares of Mplx during the second quarter valued at approximately $67,000. Ashton Thomas Private Wealth LLC bought a new position in Mplx in the second quarter worth $88,000. Farther Finance Advisors LLC lifted its position in Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after buying an additional 2,751 shares during the period. Finally, Zhang Financial LLC purchased a new stake in shares of Mplx in the 3rd quarter worth about $202,000. 24.25% of the stock is owned by institutional investors.

Insider Transactions at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 14,750 shares of the company’s stock, valued at $696,790. This represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

MPLX has been the topic of a number of analyst reports. Bank of America began coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target on the stock. Truist Financial increased their price target on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada increased their target price on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Wells Fargo & Company boosted their target price on Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.56.

Mplx Price Performance

Shares of MPLX stock traded down $0.63 during trading hours on Tuesday, hitting $47.89. The stock had a trading volume of 1,369,525 shares, compared to its average volume of 1,623,148. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a one year low of $36.76 and a one year high of $51.94. The stock’s 50-day moving average price is $47.72 and its two-hundred day moving average price is $44.68. The stock has a market capitalization of $48.79 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 2.91 and a beta of 1.43.

Mplx (NYSE:MPLX) last announced its earnings results 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 firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 EPS. Equities analysts forecast that Mplx Lp will post 4.18 EPS for the current year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.99%. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s dividend payout ratio (DPR) is 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.