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

Advisors Asset Management Inc. reduced its holdings in shares of Mplx Lp (NYSE:MPLX) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,517 shares of the pipeline company’s stock after selling 2,159 shares during the period. Advisors Asset Management Inc.’s holdings in Mplx were worth $2,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC grew its position in Mplx by 7.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock worth $12,488,000 after purchasing an additional 19,320 shares during the last quarter. ING Groep NV increased its holdings in shares of Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after purchasing an additional 2,725,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Mplx by 22.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock valued at $3,487,000 after purchasing an additional 14,782 shares during the period. Lindbrook Capital LLC boosted its holdings in Mplx by 27.2% during the third quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock worth $2,318,000 after buying an additional 11,144 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Mplx by 40.5% during the second quarter. Envestnet Asset Management Inc. now owns 361,257 shares of the pipeline company’s stock valued at $15,386,000 after buying an additional 104,218 shares during the period. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MPLX has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. UBS Group increased their price target on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Truist Financial boosted their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada increased their target price on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, Mplx has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Mplx Trading Up 2.5 %

Shares of MPLX stock opened at $49.50 on Friday. Mplx Lp has a fifty-two week low of $35.51 and a fifty-two week high of $49.54. The firm has a market capitalization of $50.43 billion, a P/E ratio of 11.67, a PEG ratio of 2.82 and a beta of 1.37. The stock’s fifty day moving average is $45.02 and its two-hundred day moving average is $42.95. 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 (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 32.70% and a net margin of 36.77%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Research analysts expect that Mplx Lp will post 4.26 earnings per share for the current fiscal year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.73%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is currently 90.33%.

Insider Buying and Selling

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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.