D.A. Davidson & CO. Raises Holdings in Mplx Lp (NYSE:MPLX)

D.A. Davidson & CO. boosted its position in Mplx Lp (NYSE:MPLX) by 3.5% in the 3rd quarter, Holdings Channel reports. The firm owned 25,400 shares of the pipeline company’s stock after acquiring an additional 862 shares during the quarter. D.A. Davidson & CO.’s holdings in Mplx were worth $1,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPLX. CWM LLC raised its position in shares of Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares during the last quarter. Summit Securities Group LLC raised its holdings in Mplx by 450.0% in the 2nd 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 last quarter. Cedar Wealth Management LLC purchased a new position in Mplx in the 3rd quarter worth approximately $51,000. Redwood Wealth Management Group LLC acquired a new position in shares of Mplx during the 2nd quarter worth approximately $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Mplx in the second quarter valued at approximately $88,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Insider Activity

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’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 sale, the vice president now owns 14,750 shares in the company, valued at $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

MPLX has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price objective on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Truist Financial lifted their target price on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note 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, Barclays lifted their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Stock Up 2.2 %

Mplx stock opened at $51.66 on Monday. 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 has a 50 day moving average price of $45.65 and a 200 day moving average price of $43.29. Mplx Lp has a fifty-two week low of $35.51 and a fifty-two week high of $51.94. The company has a market capitalization of $52.63 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 3.02 and a beta of 1.37.

Mplx (NYSE:MPLX) last posted 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 firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. Mplx’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts expect that Mplx Lp will post 4.26 earnings per share for the current year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.41%. The ex-dividend date was Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is currently 90.33%.

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.