Avidian Wealth Enterprises LLC Sells 6,545 Shares of Mplx Lp (NYSE:MPLX)

Avidian Wealth Enterprises LLC lessened its position in shares of Mplx Lp (NYSE:MPLX) by 53.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,610 shares of the pipeline company’s stock after selling 6,545 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Mplx were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MPLX. Cedar Wealth Management LLC bought a new stake in shares of Mplx during the 3rd quarter worth approximately $51,000. Geneos Wealth Management Inc. increased its position in Mplx by 56.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after purchasing an additional 409 shares in the last quarter. Crewe Advisors LLC acquired a new position in Mplx during the 4th quarter worth approximately $98,000. Farther Finance Advisors LLC increased its position in Mplx by 393.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after purchasing an additional 2,751 shares in the last quarter. Finally, Archford Capital Strategies LLC acquired a new position in Mplx during the 4th quarter worth approximately $200,000. Institutional investors own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MPLX. Raymond James upped their price objective on shares of Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 5th. Bank of America began coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, UBS Group upped their price target on shares of Mplx from $51.00 to $55.00 and gave the company 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 given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

Insider Transactions at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. This represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mplx Trading Up 1.9 %

MPLX opened at $53.62 on Friday. Mplx Lp has a twelve month low of $37.93 and a twelve month high of $54.18. 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 fifty day moving average of $49.81 and a 200-day moving average of $46.33. The stock has a market cap of $54.63 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 2.38 and a beta of 1.42.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the company posted $1.10 earnings per share. Mplx’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Mplx Lp will post 4.39 EPS for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend is Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is presently 90.74%.

Mplx Company Profile

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.