Granite Group Advisors LLC Sells 424 Shares of Mplx Lp (NYSE:MPLX)

Granite Group Advisors LLC cut its holdings in Mplx Lp (NYSE:MPLX) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,905 shares of the pipeline company’s stock after selling 424 shares during the period. Granite Group Advisors LLC’s holdings in Mplx were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Captrust Financial Advisors boosted its holdings in Mplx by 0.4% in the 3rd quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock worth $2,689,000 after buying an additional 231 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in Mplx by 1.4% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock valued at $876,000 after purchasing an additional 268 shares during the period. Cherry Creek Investment Advisors Inc. boosted its holdings in Mplx by 2.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock valued at $632,000 after purchasing an additional 279 shares during the period. FORA Capital LLC boosted its holdings in Mplx by 2.2% in the 3rd quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock valued at $681,000 after purchasing an additional 332 shares during the period. Finally, Fidelis Capital Partners LLC boosted its holdings in Mplx by 3.9% in the 3rd quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock valued at $396,000 after purchasing an additional 338 shares during the period. 24.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, the vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Monday. Royal Bank of Canada raised their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Bank of America started coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target for the company. Truist Financial lifted their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Barclays lifted their price objective on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

Mplx Price Performance

Shares of NYSE:MPLX opened at $51.90 on Monday. The stock has a market cap of $52.87 billion, a PE ratio of 12.24, a PEG ratio of 2.34 and a beta of 1.43. The company’s fifty day moving average is $49.02 and its 200 day moving average is $45.43. Mplx Lp has a 52 week low of $37.04 and a 52 week high of $53.15. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. Mplx’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. Research analysts anticipate that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date is Monday, February 3rd. Mplx’s payout ratio is 90.33%.

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.