Mplx Lp (NYSE:MPLX) Stock Holdings Lowered by Fortem Financial Group LLC

Fortem Financial Group LLC trimmed its holdings in shares of Mplx Lp (NYSE:MPLX) by 20.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,600 shares of the pipeline company’s stock after selling 6,133 shares during the period. Fortem Financial Group LLC’s holdings in Mplx were worth $1,094,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MPLX. Captrust Financial Advisors boosted its holdings in Mplx by 0.4% in the third quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock worth $2,689,000 after purchasing an additional 231 shares in the last quarter. Mcdonald Partners LLC increased its stake in shares of Mplx by 1.4% in the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock worth $732,000 after purchasing an additional 239 shares during the period. Sheaff Brock Investment Advisors LLC lifted its position in shares of Mplx by 1.4% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock worth $876,000 after purchasing an additional 268 shares during the last quarter. Cherry Creek Investment Advisors Inc. lifted its position in shares of Mplx by 2.0% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock worth $632,000 after purchasing an additional 279 shares during the last quarter. Finally, FORA Capital LLC boosted its stake in Mplx by 2.2% during 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. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays upped their target price on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their price objective on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. UBS Group upped their target price on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, Truist Financial upped their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Trading Down 1.1 %

Shares of MPLX opened at $47.75 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The company has a market cap of $48.65 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 2.92 and a beta of 1.42. The stock has a fifty day moving average price of $46.25 and a two-hundred day moving average price of $43.68. Mplx Lp has a 52-week low of $35.51 and a 52-week high of $51.94.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that Mplx Lp will post 4.17 EPS for the current fiscal year.

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.9565 per share. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.83 annualized dividend and a yield of 8.01%. Mplx’s dividend payout ratio is currently 90.09%.

Insider Activity

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

About Mplx

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.