Lindbrook Capital LLC Sells 2,332 Shares of Mplx Lp (NYSE:MPLX)

Lindbrook Capital LLC trimmed its holdings in Mplx Lp (NYSE:MPLX) by 4.5% in the fourth quarter, HoldingsChannel reports. The fund owned 49,796 shares of the pipeline company’s stock after selling 2,332 shares during the period. Lindbrook Capital LLC’s holdings in Mplx were worth $2,383,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Mplx in the fourth quarter worth $41,917,000. Keybank National Association OH increased its stake in shares of Mplx by 5.9% in the fourth quarter. Keybank National Association OH now owns 45,740 shares of the pipeline company’s stock worth $2,189,000 after buying an additional 2,531 shares during the period. Westover Capital Advisors LLC increased its stake in shares of Mplx by 31.9% in the fourth quarter. Westover Capital Advisors LLC now owns 17,800 shares of the pipeline company’s stock worth $852,000 after buying an additional 4,300 shares during the period. Bahl & Gaynor Inc. increased its stake in shares of Mplx by 7.1% in the fourth quarter. Bahl & Gaynor Inc. now owns 40,475 shares of the pipeline company’s stock worth $1,937,000 after buying an additional 2,675 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Mplx by 15.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 53,827 shares of the pipeline company’s stock worth $2,576,000 after buying an additional 7,196 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MPLX has been the topic of several analyst reports. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Raymond James boosted their price objective on shares of Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Truist Financial boosted their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada boosted their price objective on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, Barclays boosted their price objective on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Mplx presently has an average rating of “Moderate Buy” and a consensus price target of $52.11.

Mplx Stock Performance

Shares of MPLX stock opened at $53.17 on Thursday. Mplx Lp has a 12 month low of $39.56 and a 12 month high of $54.79. The stock has a market cap of $54.17 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. 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 company’s fifty day moving average price is $51.46 and its 200-day moving average price is $47.56.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the previous year, the business posted $1.10 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts expect that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is presently 90.74%.

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.