Bank of New York Mellon Corp lowered its stake in Mplx Lp (NYSE:MPLX - Free Report) by 58.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,051 shares of the pipeline company's stock after selling 19,725 shares during the quarter. Bank of New York Mellon Corp's holdings in Mplx were worth $672,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Mplx by 56.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company's stock valued at $54,000 after purchasing an additional 409 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Mplx in the 4th quarter valued at about $98,000. Allworth Financial LP lifted its stake in Mplx by 25.1% in the 4th quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company's stock valued at $134,000 after purchasing an additional 517 shares during the last quarter. Archford Capital Strategies LLC acquired a new position in Mplx during the fourth quarter worth approximately $200,000. Finally, Panoramic Investment Advisors LLC acquired a new stake in shares of Mplx in the fourth quarter valued at approximately $200,000. 24.25% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Mplx from $54.00 to $59.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Barclays upped their price target on shares of Mplx from $52.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Morgan Stanley lifted their target price on Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. StockNews.com cut Mplx from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Finally, Raymond James raised their price target on Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $54.00.
Read Our Latest Stock Analysis on Mplx
Mplx Price Performance
Mplx stock traded up $0.34 during mid-day trading on Friday, reaching $54.02. The company had a trading volume of 1,177,742 shares, compared to its average volume of 1,785,474. The business has a fifty day simple moving average of $53.07 and a 200 day simple moving average of $48.89. The company has a market cap of $55.23 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.69 and a beta of 1.40. 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 Lp has a fifty-two week low of $39.56 and a fifty-two week high of $54.87.
Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.03. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. Mplx's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS. On average, equities research analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.
Mplx Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.08%. The ex-dividend date was Monday, February 3rd. Mplx's dividend payout ratio is currently 90.74%.
Insider Activity at Mplx
In related news, VP Shawn M. Lyon bought 4,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $52.75 per share, with a total value of $211,000.00. Following the transaction, the vice president now directly owns 25,299 shares in the company, valued at approximately $1,334,522.25. This trade represents a 18.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
About Mplx
(
Free Report)
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.
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