Longfellow Investment Management Co. LLC Sells 100,335 Shares of Mplx Lp (NYSE:MPLX)

Longfellow Investment Management Co. LLC lessened its holdings in Mplx Lp (NYSE:MPLX) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 766,529 shares of the pipeline company’s stock after selling 100,335 shares during the period. Mplx accounts for about 8.5% of Longfellow Investment Management Co. LLC’s investment portfolio, making the stock its 3rd biggest holding. Longfellow Investment Management Co. LLC’s holdings in Mplx were worth $34,080,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after buying an additional 451 shares during the period. Summit Securities Group LLC boosted its holdings in Mplx by 450.0% during the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after acquiring an additional 900 shares during the period. Cedar Wealth Management LLC acquired a new stake in shares of Mplx in the third quarter valued at about $51,000. Redwood Wealth Management Group LLC bought a new position in shares of Mplx in the second quarter worth about $67,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Mplx in the second quarter worth about $88,000. 24.25% of the stock is currently owned by institutional investors.

Insider Transactions at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $696,790. The trade was a 21.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mplx Stock Up 0.4 %

Shares of MPLX opened at $49.69 on Monday. Mplx Lp has a 12 month low of $35.51 and a 12 month high of $49.69. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The company has a 50-day moving average price of $45.02 and a two-hundred day moving average price of $42.96. The stock has a market cap of $50.62 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 2.89 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced 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 company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. Equities analysts predict that Mplx Lp will post 4.26 EPS for the current fiscal year.

Mplx Increases Dividend

The firm 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 represents a $3.83 annualized dividend and a dividend yield of 7.70%. The ex-dividend date was Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is presently 90.33%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MPLX shares. Barclays increased their price objective on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their target price on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Bank of America began coverage on shares of Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of 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 downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.44.

Mplx 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.