Mplx Lp (NYSE:MPLX) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of Mplx Lp (NYSE:MPLX) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 43,494 shares of the pipeline company’s stock after selling 2,000 shares during the period. M&T Bank Corp’s holdings in Mplx were worth $2,082,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MPLX. Farther Finance Advisors LLC increased its position in shares of Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after purchasing an additional 2,751 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Mplx by 3.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 44,894 shares of the pipeline company’s stock valued at $1,996,000 after acquiring an additional 1,338 shares during the period. Van ECK Associates Corp increased its position in shares of Mplx by 10.7% in the 3rd quarter. Van ECK Associates Corp now owns 57,809 shares of the pipeline company’s stock valued at $2,535,000 after acquiring an additional 5,569 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Mplx in the 3rd quarter valued at $922,000. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Mplx in the 3rd quarter valued at $229,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MPLX. Wells Fargo & Company upped their target price on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Barclays upped their target price on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Truist Financial upped their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group upped their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Raymond James upped their target price on Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Price Performance

Shares of MPLX opened at $52.65 on Monday. The business’s 50-day moving average is $51.66 and its two-hundred day moving average is $47.74. The company has a market capitalization of $53.64 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.69 and a beta of 1.40. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a fifty-two week low of $39.56 and a fifty-two week high of $54.79.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the company posted $1.10 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.27%. The ex-dividend date was Monday, February 3rd. Mplx’s payout ratio is currently 90.74%.

Mplx Company 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.