Citigroup Inc. Purchases 33,772 Shares of Mplx Lp (NYSE:MPLX)

Citigroup Inc. lifted its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,144,404 shares of the pipeline company's stock after acquiring an additional 33,772 shares during the quarter. Citigroup Inc. owned approximately 0.11% of Mplx worth $50,880,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. CWM LLC raised its position in Mplx by 73.3% during the second quarter. CWM LLC now owns 1,066 shares of the pipeline company's stock valued at $45,000 after purchasing an additional 451 shares in the last quarter. Summit Securities Group LLC raised its holdings 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 buying an additional 900 shares in the last quarter. Cedar Wealth Management LLC bought a new stake in shares of Mplx during the 3rd quarter worth $51,000. Redwood Wealth Management Group LLC acquired a new stake in Mplx in the second quarter valued at about $67,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Mplx during the second quarter worth about $88,000. Institutional investors own 24.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MPLX shares. UBS Group raised their price target on shares of Mplx from $51.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Barclays raised their target price 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 boosted their price objective on Mplx from $50.00 to $52.00 and gave the stock an "outperform" rating in a research report on Monday, November 18th. Truist Financial raised their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Finally, Bank of America assumed coverage on shares of Mplx in a research note on Thursday, October 17th. They set an "underperform" rating and a $43.00 target price for the company. One research 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, Mplx presently has an average rating of "Moderate Buy" and a consensus price target of $49.44.

Mplx Stock Up 2.5 %

Shares of NYSE MPLX traded up $1.23 during mid-day trading on Friday, reaching $49.50. 2,489,686 shares of the company's stock traded hands, compared to its average volume of 2,220,481. The stock has a market cap of $50.43 billion, a P/E ratio of 11.67, a PEG ratio of 2.82 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 1-year low of $35.51 and a 1-year high of $49.54. The business has a 50-day simple moving average of $45.02 and a 200 day simple moving average of $42.95.

Mplx (NYSE:MPLX - Get Free Report) 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 business had revenue of $2.97 billion for 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 company's revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. On average, analysts expect 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. Shareholders of record on Friday, November 8th were paid a $0.9565 dividend. 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 yield of 7.73%. The ex-dividend date was Friday, November 8th. Mplx's dividend payout ratio is currently 90.09%.

Insider Buying and Selling at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction 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 transaction, the vice president now owns 14,750 shares of the company's stock, valued at $696,790. This represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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.