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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mplx Stock Performance

Shares of MPLX stock opened at $48.27 on Friday. The firm has a market cap of $49.18 billion, a PE ratio of 11.38, a P/E/G ratio of 1.30 and a beta of 1.37. Mplx Lp has a 12 month low of $35.51 and a 12 month high of $48.49. The company’s fifty day simple moving average is $44.90 and its 200-day simple moving average is $42.89. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

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

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a dividend of $0.9565 per share. The ex-dividend date was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.93%. Mplx’s payout ratio is presently 90.33%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MPLX shares. UBS Group increased their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Bank of America began coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. Truist Financial lifted their target price on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.44.

Hedge Funds Weigh In On Mplx

Several large investors have recently modified their holdings of MPLX. Catalyst Capital Advisors LLC boosted its holdings in shares of Mplx by 7.4% during the third quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock worth $12,488,000 after acquiring an additional 19,320 shares during the period. ING Groep NV increased its position in Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after buying an additional 2,725,000 shares during the period. Sei Investments Co. lifted its holdings in shares of Mplx by 47.4% during the first quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock worth $2,150,000 after buying an additional 16,637 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Mplx by 22.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock valued at $3,487,000 after acquiring an additional 14,782 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position 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 acquiring an additional 11,144 shares during the period. 24.25% of the stock is owned by institutional investors.

About Mplx

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.