Atria Investments Inc Lowers Stake in Mplx Lp (NYSE:MPLX)

Atria Investments Inc reduced its position in Mplx Lp (NYSE:MPLX) by 17.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,504 shares of the pipeline company’s stock after selling 1,541 shares during the period. Atria Investments Inc’s holdings in Mplx were worth $334,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mcdonald Partners LLC increased its holdings in Mplx by 1.4% in the 2nd quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock valued at $732,000 after purchasing an additional 239 shares in the last quarter. Cherry Creek Investment Advisors Inc. grew its stake in shares of Mplx by 2.0% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock valued at $632,000 after buying an additional 279 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of Mplx by 10.4% during the 2nd quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock valued at $127,000 after buying an additional 282 shares during the period. Fidelis Capital Partners LLC lifted its position in Mplx by 3.9% during the 3rd quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock worth $396,000 after acquiring an additional 338 shares in the last quarter. Finally, Addis & Hill Inc boosted its holdings in Mplx by 2.7% in the 3rd quarter. Addis & Hill Inc now owns 13,462 shares of the pipeline company’s stock worth $599,000 after acquiring an additional 357 shares during the period. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Insider Buying and Selling

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 transaction of $188,960.00. Following the completion of the transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. The trade was a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

A number of research firms have recently commented on MPLX. UBS Group boosted their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays boosted their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their target price on Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Truist Financial boosted their price target on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America began coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target for the company. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Mplx Stock Performance

Shares of MPLX opened at $49.50 on Friday. 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 Lp has a 12-month low of $35.51 and a 12-month high of $49.54. The business’s fifty day moving average price is $45.02 and its 200 day moving average price is $42.94. The stock has a market capitalization of $50.43 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.30 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share 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 for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company earned $0.89 EPS. Mplx’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Mplx Lp will post 4.31 EPS for the current year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.73%. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. Mplx’s dividend payout ratio is presently 90.33%.

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.