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 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 directly owns 14,750 shares of the company’s stock, valued at $696,790. The trade was a 21.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Mplx Stock Performance

Mplx stock traded down $0.09 during mid-day trading on Wednesday, hitting $47.58. 1,335,773 shares of the company’s stock traded hands, compared to its average volume of 1,857,438. The stock has a market cap of $48.48 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.28 and a beta of 1.37. 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 50 day simple moving average of $44.71 and a two-hundred day simple moving average of $42.82. Mplx Lp has a fifty-two week low of $35.51 and a fifty-two week high of $47.79.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the company posted $0.89 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, research 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. Investors of record on Friday, November 8th were given a dividend of $0.9565 per share. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 8.04%. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s dividend payout ratio is currently 90.09%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group lifted their price target on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company raised their price objective on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Truist Financial raised their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America initiated coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Institutional Investors Weigh In On Mplx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ING Groep NV raised its position in Mplx by 69.8% in the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after purchasing an additional 2,725,000 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in shares of Mplx by 7.4% in the third quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock worth $12,488,000 after acquiring an additional 19,320 shares during the period. Sei Investments Co. lifted its holdings in Mplx by 47.4% in the first quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock valued at $2,150,000 after buying an additional 16,637 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Mplx by 22.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock worth $3,487,000 after purchasing an additional 14,782 shares during the period. Finally, Lindbrook Capital LLC increased its holdings in Mplx by 27.2% in the third quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock worth $2,318,000 after purchasing an additional 11,144 shares in the last quarter. 24.25% of the stock is owned by institutional investors.

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.