Mplx Lp (NYSE:MPLX) Short Interest Update

Mplx Lp (NYSE:MPLX) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 8,980,000 shares, a decline of 15.2% from the December 15th total of 10,590,000 shares. Based on an average daily trading volume, of 1,790,000 shares, the days-to-cover ratio is presently 5.0 days. Approximately 2.5% of the company’s shares are sold short.

Mplx Stock Performance

Shares of NYSE:MPLX traded up $0.36 during midday trading on Friday, hitting $51.17. The stock had a trading volume of 1,277,036 shares, compared to its average volume of 1,563,796. Mplx has a 1 year low of $36.79 and a 1 year high of $51.94. 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 price of $48.46 and a two-hundred day moving average price of $45.08. The company has a market capitalization of $52.13 billion, a PE ratio of 12.07, a P/E/G ratio of 2.81 and a beta of 1.43.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The business 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%. Mplx’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 firm posted $0.89 EPS. As a group, equities analysts predict that Mplx will post 4.17 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.9565 dividend. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. This represents a $3.83 annualized dividend and a yield of 7.48%. Mplx’s dividend payout ratio is presently 90.33%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 11th. Barclays boosted their price objective on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Bank of America assumed coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, UBS Group increased their price target on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Mplx has a consensus rating of “Moderate Buy” and an average price target of $49.89.

Insider Activity

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, 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 filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Mplx

Several institutional investors have recently made changes to their positions in the stock. Cedar Wealth Management LLC acquired a new position in Mplx during the third quarter worth $51,000. Farther Finance Advisors LLC increased its position in shares of Mplx by 393.0% in 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 in the last quarter. Zhang Financial LLC acquired a new position in shares of Mplx during the 3rd quarter worth $202,000. Alpha Cubed Investments LLC purchased a new stake in shares of Mplx in the 3rd quarter worth about $204,000. Finally, Marcum Wealth LLC acquired a new stake in Mplx in the 4th quarter valued at about $205,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

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.