Exchange Traded Concepts LLC Has $19.99 Million Stock Holdings in Mplx Lp (NYSE:MPLX)

Exchange Traded Concepts LLC lowered its stake in Mplx Lp (NYSE:MPLX - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 417,703 shares of the pipeline company's stock after selling 32,784 shares during the quarter. Exchange Traded Concepts LLC's holdings in Mplx were worth $19,991,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Blair William & Co. IL grew its stake in shares of Mplx by 13.5% during the second quarter. Blair William & Co. IL now owns 12,994 shares of the pipeline company's stock valued at $553,000 after acquiring an additional 1,542 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Mplx by 1.2% during the 2nd quarter. Pacer Advisors Inc. now owns 53,827 shares of the pipeline company's stock valued at $2,292,000 after acquiring an additional 634 shares in the last quarter. Sei Investments Co. lifted its position in shares of Mplx by 10.4% in the 2nd quarter. Sei Investments Co. now owns 57,144 shares of the pipeline company's stock worth $2,434,000 after buying an additional 5,404 shares during the last quarter. Daymark Wealth Partners LLC acquired a new position in Mplx in the second quarter valued at approximately $1,310,000. Finally, Creative Planning boosted its position in Mplx by 33.9% during the 2nd quarter. Creative Planning now owns 35,432 shares of the pipeline company's stock valued at $1,509,000 after purchasing an additional 8,979 shares during the period. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Bank of America initiated coverage on Mplx in a research note on Thursday, October 17th. They issued an "underperform" rating and a $43.00 price target 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 report on Tuesday, November 19th. Royal Bank of Canada boosted their price target on shares of Mplx from $50.00 to $52.00 and gave the company an "outperform" rating in a report on Monday, November 18th. Wells Fargo & Company increased their price objective on Mplx from $53.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Finally, Barclays lifted their target price on shares of Mplx from $49.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $49.89.

Mplx Stock Up 0.0 %

Shares of Mplx stock traded up $0.02 during midday trading on Friday, reaching $51.90. 1,202,458 shares of the company's stock traded hands, compared to its average volume of 1,575,750. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a 52 week low of $37.04 and a 52 week high of $53.15. The company's 50 day simple moving average is $48.93 and its 200 day simple moving average is $45.34. The company has a market cap of $52.87 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 2.34 and a beta of 1.43.

Mplx (NYSE:MPLX - Get Free Report) last posted its earnings results 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). The company 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%. Mplx's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $0.89 earnings per share. Equities analysts expect that Mplx Lp will post 4.18 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.9565 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a yield of 7.37%. Mplx's payout ratio is currently 90.33%.

Insider Buying and Selling at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm'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 owns 14,750 shares of the company's stock, valued at $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through 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.