Mplx Lp (NYSE:MPLX) Shares Acquired by CWA Asset Management Group LLC

CWA Asset Management Group LLC increased its position in shares of Mplx Lp (NYSE:MPLX) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,120 shares of the pipeline company’s stock after purchasing an additional 380 shares during the period. CWA Asset Management Group LLC’s holdings in Mplx were worth $1,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Mplx by 11.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,925 shares of the pipeline company’s stock worth $678,000 after acquiring an additional 1,670 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Mplx by 10.8% in the second quarter. Commonwealth Equity Services LLC now owns 98,066 shares of the pipeline company’s stock valued at $4,177,000 after acquiring an additional 9,585 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Mplx by 7.7% during the second quarter. Savant Capital LLC now owns 14,636 shares of the pipeline company’s stock worth $623,000 after purchasing an additional 1,052 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Mplx by 4,274.2% during the second quarter. Strategic Financial Concepts LLC now owns 811,371 shares of the pipeline company’s stock worth $346,000 after purchasing an additional 792,822 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Mplx in the 2nd quarter valued at about $805,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Down 1.3 %

MPLX opened at $47.87 on Wednesday. The firm has a market cap of $48.77 billion, a P/E ratio of 11.29, a PEG ratio of 2.91 and a beta of 1.43. Mplx Lp has a 52 week low of $36.76 and a 52 week high of $51.94. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The business’s fifty day simple moving average is $47.78 and its 200 day simple moving average is $44.72.

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 return on equity of 32.70% and a net margin of 36.77%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the business earned $0.89 EPS. Mplx’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 7.99%. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. Mplx’s dividend payout ratio is presently 90.09%.

Insider Buying and Selling

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the sale, the vice president now directly owns 14,750 shares in the company, valued at approximately $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 accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MPLX shares. Royal Bank of Canada boosted their price objective on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. UBS Group upped their price objective on 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 lifted their target price on shares of Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Truist Financial lifted their price target on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Bank of America initiated coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.56.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.