Granite Group Advisors LLC Has $570,000 Stake in Mplx Lp (NYSE:MPLX)

Granite Group Advisors LLC trimmed its stake in Mplx Lp (NYSE:MPLX) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,905 shares of the pipeline company’s stock after selling 424 shares during the period. Granite Group Advisors LLC’s holdings in Mplx were worth $570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MPLX. Geneos Wealth Management Inc. boosted its position in Mplx by 56.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after acquiring an additional 409 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in Mplx during the third quarter valued at $51,000. Farther Finance Advisors LLC boosted 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 acquiring an additional 2,751 shares during the last quarter. Archford Capital Strategies LLC bought a new stake in Mplx during the fourth quarter valued at $200,000. Finally, Marcum Wealth LLC bought a new stake in Mplx during the fourth quarter valued at $205,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Trading Up 0.0 %

MPLX opened at $51.90 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a market capitalization of $52.87 billion, a PE ratio of 12.24, a P/E/G ratio of 2.34 and a beta of 1.43. Mplx Lp has a fifty-two week low of $37.04 and a fifty-two week high of $53.15. The company’s 50-day moving average is $49.02 and its 200 day moving average is $45.43.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 EPS 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. As a group, research analysts predict that Mplx Lp will post 4.18 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a $0.9565 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.83 annualized dividend and a yield of 7.37%. Mplx’s dividend payout ratio (DPR) is 90.33%.

Insider Buying and Selling at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s 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 in the company, valued at $696,790. This trade represents a 21.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MPLX shares. Bank of America started coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. Royal Bank of Canada increased their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. 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 report on Friday, November 15th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Barclays increased their price objective on shares of Mplx from $49.00 to $52.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

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.