Sheaff Brock Investment Advisors LLC decreased its position in Mplx Lp (NYSE:MPLX) by 14.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,090 shares of the pipeline company’s stock after selling 3,161 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Mplx were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Mplx by 16.8% during the 3rd quarter. Alps Advisors Inc. now owns 23,435,667 shares of the pipeline company’s stock valued at $820,483,000 after buying an additional 3,379,395 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of Mplx by 351.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,633,092 shares of the pipeline company’s stock valued at $54,545,000 after purchasing an additional 1,271,145 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Mplx by 20.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,783,189 shares of the pipeline company’s stock valued at $201,776,000 after purchasing an additional 999,582 shares in the last quarter. ING Groep NV increased its stake in shares of Mplx by 31.5% in the 3rd quarter. ING Groep NV now owns 3,124,100 shares of the pipeline company’s stock valued at $109,375,000 after purchasing an additional 749,100 shares in the last quarter. Finally, Dividend Assets Capital LLC increased its stake in shares of Mplx by 5,689.7% in the 3rd quarter. Dividend Assets Capital LLC now owns 577,229 shares of the pipeline company’s stock valued at $20,209,000 after purchasing an additional 567,259 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.
In related news, VP Gregory Scott Floerke sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $36.00, for a total value of $72,000.00. Following the transaction, the vice president now directly owns 79,598 shares in the company, valued at $2,865,528. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP C Corwin Bromley sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $86,250.00. Following the completion of the transaction, the vice president now owns 123,705 shares in the company, valued at $4,267,822.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,000 shares of company stock worth $487,670.
Several brokerages recently weighed in on MPLX. Royal Bank Of Canada restated a “buy” rating and issued a $46.00 price target on shares of Mplx in a research note on Wednesday, November 15th. BidaskClub upgraded Mplx from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 31st. UBS lifted their price target on Mplx from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Stifel Nicolaus lowered their price objective on Mplx from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Finally, Mizuho reiterated a “buy” rating and issued a $40.00 price objective on shares of Mplx in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.67.
Shares of Mplx Lp (NYSE:MPLX) traded down $0.49 during trading on Tuesday, hitting $35.64. The stock had a trading volume of 1,950,300 shares, compared to its average volume of 1,411,803. The firm has a market cap of $15,007.43, a PE ratio of 39.70, a P/E/G ratio of 4.95 and a beta of 1.36. Mplx Lp has a fifty-two week low of $30.88 and a fifty-two week high of $39.43. The company has a current ratio of 0.54, a quick ratio of 0.48 and a debt-to-equity ratio of 0.68.
Mplx (NYSE:MPLX) last issued its earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $965.07 million. Mplx had a return on equity of 5.87% and a net margin of 16.79%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. research analysts forecast that Mplx Lp will post 1.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were issued a dividend of $0.5875 per share. This is a boost from Mplx’s previous quarterly dividend of $0.56. This represents a $2.35 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend was Friday, November 3rd. Mplx’s payout ratio is currently 258.24%.
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MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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