Fmr LLC Increases Holdings in Mplx Lp (NYSE:MPLX)

FMR LLC boosted its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 387.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 823,467 shares of the pipeline company's stock after purchasing an additional 654,500 shares during the quarter. FMR LLC owned about 0.08% of Mplx worth $36,611,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC lifted its holdings 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 purchasing an additional 451 shares in the last quarter. Summit Securities Group LLC lifted its stake 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 acquiring an additional 900 shares in the last quarter. Cedar Wealth Management LLC purchased a new position in Mplx during the 3rd quarter worth $51,000. Redwood Wealth Management Group LLC bought a new stake in shares of Mplx in the 2nd quarter worth $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Mplx in the second quarter valued at about $88,000. Institutional investors own 24.25% of the company's stock.

Insider Transactions at Mplx

In related 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Mplx Price Performance

MPLX traded down $0.74 during trading on Monday, reaching $48.26. 1,401,989 shares of the company were exchanged, compared to its average volume of 1,842,194. Mplx Lp has a 12-month low of $35.51 and a 12-month high of $51.94. The company's 50-day moving average is $46.25 and its two-hundred day moving average is $43.68. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The company has a market cap of $49.17 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 2.92 and a beta of 1.42.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly 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 firm had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Research analysts forecast that Mplx Lp will post 4.17 earnings per share for the current fiscal year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.9565 per share. 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 dividend yield of 7.93%. The ex-dividend date of this dividend was Friday, November 8th. Mplx's payout ratio is 90.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Mplx from $50.00 to $52.00 and gave the stock an "outperform" rating in a research note on Monday, November 18th. StockNews.com cut shares of Mplx from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 22nd. Wells Fargo & Company raised their price target on shares of Mplx from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Barclays upped their price objective on Mplx from $45.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, UBS Group raised their target price on Mplx from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.44.

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.