Mplx Lp $MPLX Shares Sold by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC trimmed its stake in Mplx Lp (NYSE:MPLX) by 90.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,610 shares of the pipeline company’s stock after selling 41,567 shares during the period. Greenup Street Wealth Management LLC’s holdings in Mplx were worth $263,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MPLX. Invesco Ltd. boosted its position in shares of Mplx by 0.7% during the 3rd quarter. Invesco Ltd. now owns 19,561,938 shares of the pipeline company’s stock worth $977,119,000 after purchasing an additional 143,361 shares during the period. Bank of America Corp DE raised its position in Mplx by 8.3% in the second quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after purchasing an additional 757,569 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Mplx by 4.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,060,024 shares of the pipeline company’s stock valued at $352,648,000 after purchasing an additional 300,321 shares during the period. Morgan Stanley raised its position in Mplx by 23.7% in the fourth quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company’s stock valued at $307,577,000 after purchasing an additional 1,104,510 shares during the period. Finally, Energy Income Partners LLC lifted its stake in Mplx by 2.1% during the third quarter. Energy Income Partners LLC now owns 5,659,885 shares of the pipeline company’s stock worth $282,711,000 after purchasing an additional 118,090 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on MPLX shares. Morgan Stanley lowered their price target on Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. UBS Group boosted their price objective on Mplx from $64.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 16th. JPMorgan Chase & Co. increased their target price on Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 10th. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Truist Financial dropped their target price on Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.60.

Mplx Price Performance

Shares of MPLX opened at $56.25 on Thursday. The company has a market cap of $57.08 billion, a P/E ratio of 12.18, a PEG ratio of 5.53 and a beta of 0.48. Mplx Lp has a fifty-two week low of $47.80 and a fifty-two week high of $59.98. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71. The firm’s 50 day moving average price is $55.73 and its 200 day moving average price is $55.97.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.15). The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. On average, research analysts forecast that Mplx Lp will post 4.22 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $1.0765 dividend. This represents a $4.31 annualized dividend and a dividend yield of 7.7%. The ex-dividend date was Friday, May 8th. Mplx’s dividend payout ratio (DPR) is presently 93.29%.

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.