Mplx Lp (NYSE:MPLX) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. lessened its holdings in Mplx Lp (NYSE:MPLX) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,098 shares of the pipeline company’s stock after selling 622 shares during the quarter. FDx Advisors Inc.’s holdings in Mplx were worth $212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Mplx by 2.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,463,737 shares of the pipeline company’s stock worth $237,348,000 after buying an additional 154,529 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Mplx by 23.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock worth $111,200,000 after purchasing an additional 574,737 shares during the period. ING Groep NV grew its stake in shares of Mplx by 21.2% during the 4th quarter. ING Groep NV now owns 2,740,500 shares of the pipeline company’s stock worth $100,631,000 after purchasing an additional 480,000 shares during the period. Miller Howard Investments Inc. NY grew its stake in shares of Mplx by 1.0% during the 1st quarter. Miller Howard Investments Inc. NY now owns 2,385,733 shares of the pipeline company’s stock worth $99,151,000 after purchasing an additional 22,734 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Mplx by 60.6% during the 3rd quarter. Citigroup Inc. now owns 2,028,514 shares of the pipeline company’s stock worth $72,154,000 after purchasing an additional 765,618 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MPLX. Barclays raised their price objective on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. UBS Group increased their target price on Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 12th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. increased their target price on Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, Truist Financial raised their price objective on Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.11.

Mplx Stock Down 0.0 %

Shares of NYSE:MPLX opened at $41.82 on Friday. The business has a 50-day moving average price of $41.30 and a 200 day moving average price of $40.00. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $42.50 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 2.09 and a beta of 1.37. Mplx Lp has a 12-month low of $34.24 and a 12-month high of $43.07.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. Sell-side analysts expect that Mplx Lp will post 4.01 EPS for the current year.

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 8.13%. The ex-dividend date of this dividend was Thursday, May 2nd. Mplx’s payout ratio is 87.63%.

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.