Insider Selling: Mplx Lp (NYSE:MPLX) VP Sells $188,960.00 in Stock

Mplx Lp (NYSE:MPLX) VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the sale, the vice president now directly owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mplx Trading Up 2.5 %

Shares of Mplx stock opened at $49.50 on Friday. The company has a fifty day simple moving average of $45.02 and a 200-day simple moving average of $42.94. Mplx Lp has a 12-month low of $35.51 and a 12-month high of $49.54. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The stock has a market cap of $50.43 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 2.82 and a beta of 1.37.

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

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a dividend of $0.9565 per share. The ex-dividend date was Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a yield of 7.73%. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is currently 90.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MPLX shares. Royal Bank of Canada upped their target price on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Barclays upped their target price on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Truist Financial boosted their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, UBS Group boosted their price target on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a 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, Mplx presently has an average rating of “Moderate Buy” and an average price target of $49.44.

Institutional Trading of Mplx

A number of large investors have recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. boosted its stake in Mplx by 2.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock worth $631,435,000 after purchasing an additional 353,324 shares during the period. ING Groep NV raised its position in Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after buying an additional 2,725,000 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in Mplx by 0.8% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company’s stock worth $255,003,000 after buying an additional 45,271 shares during the last quarter. Chickasaw Capital Management LLC raised its position in Mplx by 0.6% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company’s stock worth $248,089,000 after buying an additional 34,659 shares during the last quarter. Finally, Energy Income Partners LLC raised its position in Mplx by 5.1% during the 1st quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock worth $217,148,000 after buying an additional 255,211 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

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.