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

Mplx Lp (NYSE:MPLX) VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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 approximately $696,790. This represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Mplx Stock Down 0.2 %

Shares of Mplx stock opened at $47.58 on Thursday. The company has a 50-day simple moving average of $44.80 and a two-hundred day simple moving average of $42.85. Mplx Lp has a 52-week low of $35.51 and a 52-week high of $47.79. 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 stock has a market capitalization of $48.47 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.30 and a beta of 1.37.

Mplx (NYSE:MPLX) last released its quarterly earnings data 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 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 the consensus estimate of $3.09 billion. During the same period last year, the company posted $0.89 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Mplx Lp will post 4.31 EPS for the current fiscal year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 8.04%. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. Mplx’s payout ratio is presently 90.33%.

Analyst Ratings Changes

MPLX has been the subject of several research analyst reports. UBS Group raised their price objective 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 assumed coverage on Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target on the stock. Truist Financial increased their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 14th. Finally, Barclays increased their price target on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC raised its stake in Mplx by 7.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock valued at $12,488,000 after buying an additional 19,320 shares during the last quarter. ING Groep NV boosted 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 worth $294,699,000 after purchasing an additional 2,725,000 shares during the last quarter. Sei Investments Co. boosted its position in Mplx by 47.4% in the first quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock worth $2,150,000 after purchasing an additional 16,637 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Mplx by 22.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock valued at $3,487,000 after purchasing an additional 14,782 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of Mplx by 27.2% in the 3rd 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 during the period. Institutional investors own 24.25% of the company’s stock.

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.