Carl Kristopher Hagedorn Sells 4,000 Shares of Mplx Lp (NYSE:MPLX) Stock

Mplx Lp (NYSE:MPLX) VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the transaction, the vice president now owns 14,750 shares of the company’s stock, valued at $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mplx Price Performance

Mplx stock opened at $49.50 on Friday. Mplx Lp has a 12-month low of $35.51 and a 12-month high of $49.54. The stock has a market capitalization of $50.43 billion, a P/E ratio of 11.67, a P/E/G ratio of 2.82 and a beta of 1.37. The firm’s 50-day moving average is $45.02 and its two-hundred day moving average is $42.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95.

Mplx (NYSE:MPLX) last released 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 return on equity of 32.70% and a net margin of 36.77%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business posted $0.89 earnings per share. Mplx’s revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Mplx Lp will post 4.26 earnings per share for the current year.

Mplx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.9565 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 7.73%. Mplx’s dividend payout ratio (DPR) is currently 90.33%.

Institutional Investors Weigh In On Mplx

Hedge funds have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new stake in shares of Mplx in the first quarter worth approximately $41,000. CWM LLC raised its holdings in Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares during the period. Summit Securities Group LLC raised its holdings in Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after buying an additional 900 shares during the period. Cedar Wealth Management LLC purchased a new position in Mplx in the third quarter valued at approximately $51,000. Finally, Redwood Wealth Management Group LLC purchased a new position in Mplx in the second quarter valued at approximately $67,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPLX has been the subject of a number of research analyst reports. Royal Bank of Canada increased 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 initiated 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. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday. Barclays increased their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised their target price on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.