Belpointe Asset Management LLC Sells 13,153 Shares of Mplx Lp $MPLX

Belpointe Asset Management LLC trimmed its holdings in Mplx Lp (NYSE:MPLX) by 70.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,578 shares of the pipeline company’s stock after selling 13,153 shares during the quarter. Belpointe Asset Management LLC’s holdings in Mplx were worth $279,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of Mplx by 4.1% in the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock worth $1,287,000 after buying an additional 939 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Mplx by 22.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 68,888 shares of the pipeline company’s stock worth $3,548,000 after purchasing an additional 12,624 shares in the last quarter. Keudell Morrison Wealth Management bought a new position in shares of Mplx during the 2nd quarter valued at about $335,000. MAS Advisors LLC grew its position in shares of Mplx by 3.9% during the second quarter. MAS Advisors LLC now owns 7,991 shares of the pipeline company’s stock valued at $412,000 after purchasing an additional 300 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its holdings in shares of Mplx by 12.9% in the second quarter. Capital Advisors Inc. OK now owns 4,442 shares of the pipeline company’s stock worth $229,000 after purchasing an additional 507 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on MPLX shares. Barclays increased their price target on Mplx from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Morgan Stanley increased their target price on Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Zacks Research raised shares of Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Royal Bank Of Canada upped their price target on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Mplx Stock Performance

NYSE:MPLX opened at $55.92 on Monday. The firm has a market capitalization of $56.87 billion, a PE ratio of 11.85, a PEG ratio of 5.06 and a beta of 0.57. The stock’s fifty day moving average is $54.47 and its 200 day moving average is $52.02. Mplx Lp has a fifty-two week low of $44.60 and a fifty-two week high of $57.15. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.26 and a current ratio of 1.31.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. Mplx had a net margin of 37.61% and a return on equity of 34.14%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.16 billion. On average, sell-side analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 9th will be given a $1.0765 dividend. This represents a $4.31 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Monday, February 9th. Mplx’s dividend payout ratio is 91.31%.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.