Mplx Lp (NYSE:MPLX) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance increased its holdings in shares of Mplx Lp (NYSE:MPLX) by 0.6% in the third quarter, Holdings Channel reports. The firm owned 69,485 shares of the pipeline company’s stock after buying an additional 408 shares during the period. Independent Advisor Alliance’s holdings in Mplx were worth $3,089,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC acquired a new position in Mplx in the 1st quarter valued at about $202,000. Virtu Financial LLC acquired a new position in Mplx in the 1st quarter valued at about $1,396,000. Cetera Investment Advisers grew its position in Mplx by 486.2% in the 1st quarter. Cetera Investment Advisers now owns 133,685 shares of the pipeline company’s stock valued at $5,556,000 after acquiring an additional 110,880 shares in the last quarter. Cetera Advisors LLC grew its position in Mplx by 152.0% in the 1st quarter. Cetera Advisors LLC now owns 34,462 shares of the pipeline company’s stock valued at $1,432,000 after acquiring an additional 20,788 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Mplx in the 1st quarter valued at about $885,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 completion of the sale, the vice president now owns 14,750 shares in the company, valued at $696,790. This represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mplx Price Performance

MPLX stock opened at $49.09 on Tuesday. The company has a market capitalization of $50.01 billion, a P/E ratio of 11.58, a PEG ratio of 2.89 and a beta of 1.37. Mplx Lp has a twelve month low of $35.51 and a twelve month high of $49.88. The business has a 50 day simple moving average of $45.12 and a 200-day simple moving average of $43.01. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40.

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

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.9565 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 7.79%. The ex-dividend date was Friday, November 8th. Mplx’s dividend payout ratio is presently 90.33%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MPLX. Royal Bank of Canada lifted their price objective on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday. Barclays boosted their price objective on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Bank of America initiated coverage on Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Mplx presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Company Profile

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.