Mplx Lp (NYSE:MPLX) Stock Position Raised by Progeny 3 Inc.

Progeny 3 Inc. raised its holdings in shares of Mplx Lp (NYSE:MPLX) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,015,459 shares of the pipeline company’s stock after acquiring an additional 19,800 shares during the quarter. Mplx makes up 3.8% of Progeny 3 Inc.’s investment portfolio, making the stock its 12th largest holding. Progeny 3 Inc. owned 0.10% of Mplx worth $45,147,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MPLX. CWM LLC increased its position in Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 451 shares during 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 acquiring an additional 900 shares during the period. Cedar Wealth Management LLC acquired a new stake in shares of Mplx in the third quarter valued at about $51,000. Redwood Wealth Management Group LLC bought a new stake in Mplx during the 2nd quarter valued at approximately $67,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Mplx in the 2nd quarter valued at approximately $88,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the 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 sale, the vice president now directly 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 document filed with the Securities & Exchange Commission, which is available through this link.

Mplx Stock Up 2.2 %

MPLX opened at $51.66 on Friday. The firm has a market cap of $52.63 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 2.95 and a beta of 1.37. Mplx Lp has a twelve month low of $35.51 and a twelve month high of $51.94. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The firm’s 50-day simple moving average is $45.65 and its 200-day simple moving average is $43.25.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. 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 posted $0.89 EPS. Equities research analysts anticipate that Mplx Lp will post 4.26 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 paid a $0.9565 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a yield of 7.41%. This is a positive change from Mplx’s previous quarterly dividend of $0.85. Mplx’s payout ratio is currently 90.09%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group upped their price target on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays increased their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Truist Financial boosted their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company boosted their price target on Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Mplx 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.