Mplx Lp (NYSE:MPLX) Holdings Decreased by Atria Investments Inc

Atria Investments Inc lessened its stake in Mplx Lp (NYSE:MPLX) by 17.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,504 shares of the pipeline company’s stock after selling 1,541 shares during the period. Atria Investments Inc’s holdings in Mplx were worth $334,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Mcdonald Partners LLC lifted its stake in shares of Mplx by 1.4% in the 2nd quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock worth $732,000 after acquiring an additional 239 shares during the period. Cherry Creek Investment Advisors Inc. raised its holdings in Mplx by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock worth $632,000 after purchasing an additional 279 shares in the last quarter. Sound Income Strategies LLC lifted its position in Mplx by 10.4% in the second quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock worth $127,000 after purchasing an additional 282 shares during the period. Fidelis Capital Partners LLC boosted its stake in Mplx by 3.9% during the 3rd quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock valued at $396,000 after purchasing an additional 338 shares in the last quarter. Finally, Addis & Hill Inc increased its position in shares of Mplx by 2.7% during the 3rd quarter. Addis & Hill Inc now owns 13,462 shares of the pipeline company’s stock valued at $599,000 after purchasing an additional 357 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Insider Buying and Selling at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’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 transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mplx Stock Up 2.5 %

MPLX stock opened at $49.50 on Friday. The company’s 50 day simple moving average is $45.02 and its 200-day simple moving average is $42.94. Mplx Lp has a 52-week low of $35.51 and a 52-week high of $49.54. 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 $50.43 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.30 and a beta of 1.37.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company earned $0.89 EPS. Mplx’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Mplx Lp will post 4.31 EPS for the current 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 given a dividend of $0.9565 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a yield of 7.73%. Mplx’s dividend payout ratio (DPR) is presently 90.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MPLX. UBS Group upped their price objective on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company upped their price target on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Truist Financial boosted their target price on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Barclays raised their target price on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mplx currently has an average 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.