Carl Kristopher Hagedorn Sells 4,000 Shares of Mplx Lp (NYSE:MPLX) Stock

Mplx Lp (NYSE:MPLX) VP Carl Kristopher Hagedorn sold 4,000 shares of the company’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 value of $188,960.00. Following the completion of the sale, the vice president now owns 14,750 shares of the company’s stock, valued at $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mplx Stock Performance

Shares of Mplx stock traded down $0.09 during trading on Wednesday, reaching $47.58. The company’s stock had a trading volume of 1,335,773 shares, compared to its average volume of 1,857,438. Mplx Lp has a one year low of $35.51 and a one year high of $47.79. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market cap of $48.48 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. The business’s fifty day moving average price is $44.71 and its 200-day moving average price is $42.82.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Mplx Lp will post 4.31 earnings per share for the current year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a dividend of $0.9565 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a yield of 8.04%. This is an increase from Mplx’s previous quarterly dividend of $0.85. Mplx’s payout ratio is currently 90.09%.

Institutional Investors Weigh In On Mplx

Institutional investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. raised its stake in shares of Mplx by 2.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock valued at $631,435,000 after acquiring an additional 353,324 shares during the last quarter. ING Groep NV lifted its stake in shares of Mplx by 69.8% during the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after acquiring an additional 2,725,000 shares during the period. Kayne Anderson Capital Advisors LP increased its position in Mplx by 0.8% in the third quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company’s stock worth $255,003,000 after purchasing an additional 45,271 shares during the period. Chickasaw Capital Management LLC lifted its position in Mplx by 0.6% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company’s stock valued at $248,089,000 after purchasing an additional 34,659 shares during the period. Finally, Energy Income Partners LLC boosted its stake in shares of Mplx by 5.1% in the 1st quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock valued at $217,148,000 after purchasing an additional 255,211 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. UBS Group upped their price objective on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays lifted their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Truist Financial increased their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America began coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target on the stock. Finally, Royal Bank of Canada lifted their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Mplx currently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

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.