Mplx Lp (NYSE:MPLX) Stock Position Raised by FORA Capital LLC

FORA Capital LLC boosted its position in shares of Mplx Lp (NYSE:MPLX) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,320 shares of the pipeline company’s stock after purchasing an additional 332 shares during the period. FORA Capital LLC’s holdings in Mplx were worth $681,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Mplx by 73.3% during the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares in the last quarter. Summit Securities Group LLC boosted its holdings in Mplx by 450.0% during the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after purchasing an additional 900 shares in the last quarter. Cedar Wealth Management LLC bought a new stake in Mplx in the third quarter valued at $51,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Mplx during the 2nd quarter worth about $67,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Mplx during the second quarter worth approximately $88,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Up 1.8 %

Shares of MPLX stock opened at $50.53 on Friday. Mplx Lp has a 52-week low of $35.51 and a 52-week high of $50.73. The stock has a market cap of $51.48 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.95 and a beta of 1.37. The firm’s 50-day moving average is $45.50 and its 200-day moving average is $43.18. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) 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 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. Sell-side analysts predict that Mplx Lp will post 4.26 EPS for the current year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.9565 dividend. The ex-dividend date was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 7.57%. Mplx’s dividend payout ratio is presently 90.33%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Truist Financial lifted their price target on 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 upped their target price on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Barclays increased their target price on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd. Finally, UBS Group increased their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Insider Transactions at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 14,750 shares of the company’s stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mplx Company Profile

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.