Mplx Lp (NYSE:MPLX) Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC lowered its position in Mplx Lp (NYSE:MPLX) by 36.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,577 shares of the pipeline company’s stock after selling 20,568 shares during the period. Morningstar Investment Management LLC’s holdings in Mplx were worth $1,751,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. ING Groep NV increased its holdings in Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after acquiring an additional 2,725,000 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of 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 purchasing an additional 45,271 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Mplx by 4.9% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,933,486 shares of the pipeline company’s stock worth $85,963,000 after purchasing an additional 90,793 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Mplx by 0.5% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,506,962 shares of the pipeline company’s stock valued at $72,123,000 after buying an additional 8,166 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Mplx by 5.3% during the 3rd quarter. Stifel Financial Corp now owns 1,276,828 shares of the pipeline company’s stock valued at $56,768,000 after buying an additional 64,714 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Price Performance

Shares of Mplx stock opened at $53.76 on Thursday. The business’s fifty day moving average price is $50.24 and its 200 day moving average price is $46.67. Mplx Lp has a twelve month low of $38.44 and a twelve month high of $54.74. 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 capitalization of $54.77 billion, a P/E ratio of 12.77, a PEG ratio of 2.41 and a beta of 1.42.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, beating the consensus estimate 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%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. As a group, research analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 7.12%. The ex-dividend date was Monday, February 3rd. Mplx’s dividend payout ratio is presently 90.97%.

Analysts Set New Price Targets

Several analysts have recently issued reports on MPLX shares. Truist Financial upped their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Raymond James raised their price target on shares of Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on shares of Mplx from $54.00 to $59.00 and gave the company an “overweight” 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 note on Friday, February 14th. Finally, Royal Bank of Canada increased their price target on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.11.

About Mplx

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.