Mplx Lp (NYSE:MPLX) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC grew its position in shares of Mplx Lp (NYSE:MPLX) by 23.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,764 shares of the pipeline company’s stock after buying an additional 2,785 shares during the period. Tidal Investments LLC’s holdings in Mplx were worth $656,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MPLX. Summit Securities Group LLC lifted its stake in Mplx by 450.0% during the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after purchasing an additional 900 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of Mplx in the 3rd quarter worth about $51,000. Redwood Wealth Management Group LLC acquired a new position in shares of Mplx in the 2nd quarter valued at about $67,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Mplx in the 2nd quarter valued at about $88,000. Finally, Farther Finance Advisors LLC grew its position in shares of Mplx by 393.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after buying an additional 2,751 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Up 2.5 %

MPLX stock opened at $47.28 on Friday. The company has a market capitalization of $48.17 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 2.91 and a beta of 1.42. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. Mplx Lp has a 52 week low of $36.27 and a 52 week high of $51.94. The firm’s 50-day moving average is $46.84 and its two-hundred day moving average is $44.11.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 earnings per share. On average, analysts forecast that Mplx Lp will post 4.18 earnings per share for the current fiscal 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 issued a dividend of $0.9565 per share. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.09%. Mplx’s payout ratio is currently 90.33%.

Insider Activity at Mplx

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 transaction 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 trade represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

MPLX has been the subject of a number of research reports. UBS Group lifted their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada upped their price objective on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Bank of America started coverage on Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price on the stock. Barclays upped their price target on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Truist Financial lifted their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.56.

Mplx Company 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.