Mplx Lp (NYSE:MPLX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Mplx Lp (NYSE:MPLX) by 5.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 15,488 shares of the pipeline company’s stock after purchasing an additional 785 shares during the quarter. Geode Capital Management LLC’s holdings in Mplx were worth $689,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cedar Wealth Management LLC bought a new position in shares of Mplx in the 3rd quarter worth about $51,000. Redwood Wealth Management Group LLC bought a new position in shares of Mplx in the 2nd quarter worth about $67,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Mplx in the 2nd quarter worth about $88,000. Farther Finance Advisors LLC lifted its position in Mplx by 393.0% in the 3rd 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 during the last quarter. Finally, Zhang Financial LLC bought a new stake in Mplx in the 3rd quarter valued at about $202,000. 24.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MPLX has been the topic of several recent research reports. UBS Group lifted their price objective on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Barclays lifted their price objective 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. Truist Financial lifted their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada lifted 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, Wells Fargo & Company lifted their price objective on shares of Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.56.

Mplx Stock Down 0.1 %

MPLX stock opened at $48.42 on Friday. Mplx Lp has a 52 week low of $36.76 and a 52 week high of $51.94. The company has a market capitalization of $49.33 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 2.91 and a beta of 1.43. The firm’s 50-day moving average is $48.03 and its two-hundred day moving average is $44.83. 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 (NYSE:MPLX) last announced 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 business 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 business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. On average, analysts forecast that Mplx Lp will post 4.18 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.9565 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.90%. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s payout ratio is currently 90.09%.

Insider Transactions at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, the vice president now directly 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 legal filing with the SEC, which is available at this link.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.