Mplx Lp (NYSE:MPLX) Position Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Mplx Lp (NYSE:MPLX) by 15.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,710,053 shares of the pipeline company’s stock after selling 1,044,187 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.56% of Mplx worth $253,869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cedar Wealth Management LLC bought a new stake in shares of Mplx in the 3rd quarter valued at approximately $51,000. Redwood Wealth Management Group LLC bought a new position in shares of Mplx in the 2nd quarter worth about $67,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Mplx in the 2nd quarter valued at about $88,000. Farther Finance Advisors LLC raised its stake in Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after acquiring an additional 2,751 shares during the period. Finally, Zhang Financial LLC acquired a new position in Mplx in the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Analysts Set New Price Targets

MPLX has been the subject of a number of analyst reports. Truist Financial boosted their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Bank of America assumed coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. UBS Group increased their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, Barclays lifted their price target on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. 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, Mplx presently has an average rating of “Moderate Buy” and an average price target of $49.56.

Mplx Price Performance

NYSE MPLX opened at $47.69 on Tuesday. Mplx Lp has a 12 month low of $36.58 and a 12 month high of $51.94. The firm has a market capitalization of $48.59 billion, a PE ratio of 11.25, a P/E/G ratio of 2.91 and a beta of 1.42. The company’s 50 day simple moving average is $47.29 and its 200 day simple moving average is $44.42. 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 issued its quarterly 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). The firm had revenue of $2.97 billion for 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%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 earnings per share. As a group, equities research analysts forecast that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 8.02%. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. Mplx’s dividend payout ratio is presently 90.09%.

Insider Activity

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’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 owns 14,750 shares of the company’s stock, valued at approximately $696,790. This represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mplx 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.