Mplx Lp (NYSE:MPLX) is Infrastructure Capital Advisors LLC’s 2nd Largest Position

Infrastructure Capital Advisors LLC decreased its position in Mplx Lp (NYSE:MPLX) by 12.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,456,059 shares of the pipeline company’s stock after selling 212,983 shares during the period. Mplx makes up about 8.7% of Infrastructure Capital Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Infrastructure Capital Advisors LLC’s holdings in Mplx were worth $64,736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPLX. CWM LLC raised its stake in shares of Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares during the last quarter. Summit Securities Group LLC raised its stake in shares of Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after buying an additional 900 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in shares of Mplx during the 3rd quarter valued at about $51,000. Redwood Wealth Management Group LLC purchased a new position in shares of Mplx during the 2nd quarter valued at about $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Mplx during the 2nd quarter valued at about $88,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Insider Transactions at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 14,750 shares in the company, valued at $696,790. The trade was a 21.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MPLX shares. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada lifted their price target on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Barclays lifted their price target on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank of America started coverage on Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target for the company. Finally, UBS Group lifted their price target on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.44.

Mplx Trading Up 1.8 %

MPLX stock opened at $50.53 on Friday. 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 12-month low of $35.51 and a 12-month high of $50.73. The stock has a market cap of $51.48 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.95 and a beta of 1.37. The business’s 50-day moving average is $45.50 and its 200 day moving average is $43.18.

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). The firm had revenue of $2.97 billion during 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. On average, sell-side analysts anticipate that Mplx Lp will post 4.26 EPS for the current fiscal year.

Mplx Increases Dividend

The business also recently announced 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 a boost from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 7.57%. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s payout ratio is currently 90.33%.

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.