Infrastructure Capital Advisors LLC Sells 212,983 Shares of Mplx Lp (NYSE:MPLX)

Infrastructure Capital Advisors LLC cut its position in Mplx Lp (NYSE:MPLX - Free Report) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,456,059 shares of the pipeline company's stock after selling 212,983 shares during the quarter. Mplx comprises approximately 8.7% of Infrastructure Capital Advisors LLC's holdings, making the stock its 2nd biggest position. Infrastructure Capital Advisors LLC owned approximately 0.14% of Mplx worth $64,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company's stock valued at $45,000 after buying an additional 451 shares during the last quarter. Summit Securities Group LLC lifted its holdings in Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company's stock valued at $47,000 after purchasing an additional 900 shares during the last quarter. Cedar Wealth Management LLC bought a new position in Mplx during the third quarter worth $51,000. Redwood Wealth Management Group LLC acquired a new position in shares of Mplx in the second quarter valued at $67,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Mplx in the second quarter valued at about $88,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 shares were 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 in the company, valued at $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays upped their price target on shares of Mplx from $45.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their target price on Mplx from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Truist Financial increased their target price on Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. StockNews.com downgraded Mplx from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada increased 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. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, Mplx currently has a consensus rating of "Moderate Buy" and an average target price of $49.44.

Mplx Price Performance

Shares of NYSE MPLX traded up $1.13 during mid-day trading on Friday, reaching $51.66. The company had a trading volume of 1,188,787 shares, compared to its average volume of 1,851,333. The firm has a market cap of $52.63 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 2.95 and a beta of 1.37. 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 one year low of $35.51 and a one year high of $51.94. The business's 50-day simple moving average is $45.65 and its 200 day simple moving average is $43.25.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.04). The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business's revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. On average, research analysts predict that Mplx Lp will post 4.26 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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. The ex-dividend date was Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.41%. Mplx's dividend payout ratio (DPR) is presently 90.09%.

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.