Mplx Lp (NYSE:MPLX) VP Carl Kristopher Hagedorn Sells 4,000 Shares

Mplx Lp (NYSE:MPLX) VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, the vice president now owns 14,750 shares of the company’s stock, valued at $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mplx Stock Up 1.5 %

MPLX stock opened at $48.27 on Friday. The stock’s 50 day moving average is $44.90 and its 200-day moving average is $42.89. Mplx Lp has a twelve month low of $35.51 and a twelve month high of $48.49. The firm has a market capitalization of $49.18 billion, a PE ratio of 11.38, a P/E/G ratio of 1.30 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last posted its 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). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Mplx Lp will post 4.31 EPS 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 issued a dividend of $0.9565 per share. The ex-dividend date was Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a yield of 7.93%. Mplx’s dividend payout ratio is 90.33%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of Mplx during the first quarter worth about $41,000. CWM LLC raised its position in shares of Mplx by 73.3% during the 2nd 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 lifted its holdings in shares of Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after acquiring an additional 900 shares during the last quarter. Cedar Wealth Management LLC bought a new position in Mplx in the third quarter valued at $51,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in Mplx during the second quarter valued at about $67,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays upped their price objective 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. Wells Fargo & Company upped their target price on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group boosted their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America initiated coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price on the stock. Finally, Royal Bank of Canada raised their price objective on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

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.