Mplx Lp (NYSE:MPLX) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC raised its stake in Mplx Lp (NYSE:MPLX) by 387.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,543 shares of the pipeline company’s stock after purchasing an additional 18,714 shares during the period. MML Investors Services LLC’s holdings in Mplx were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC lifted its position 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 worth $47,000 after purchasing an additional 900 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in shares of Mplx during the 3rd quarter worth about $51,000. Redwood Wealth Management Group LLC purchased a new position in shares of Mplx in the 2nd quarter valued at about $67,000. Ashton Thomas Private Wealth LLC purchased a new stake in Mplx during the second quarter worth approximately $88,000. Finally, Farther Finance Advisors LLC boosted its holdings in Mplx by 393.0% in the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after purchasing an additional 2,751 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Price Performance

Shares of NYSE MPLX opened at $46.14 on Friday. The company’s fifty day moving average is $46.78 and its two-hundred day moving average is $44.04. 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 capitalization of $47.01 billion, a P/E ratio of 10.88, a PEG ratio of 2.87 and a beta of 1.42. Mplx Lp has a one year low of $36.27 and a one year high of $51.94.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) 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 analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.89 earnings per share. Analysts forecast that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Increases Dividend

The company also recently disclosed 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 of this dividend was Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a yield of 8.29%. Mplx’s payout ratio is currently 90.09%.

Insiders Place Their Bets

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 completion of the transaction, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays boosted their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada raised their price objective on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Wells Fargo & Company boosted their price objective on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, Mplx currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.56.

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.