Chickasaw Capital Management LLC Sells 80,441 Shares of Mplx Lp (NYSE:MPLX)

Chickasaw Capital Management LLC cut its position in Mplx Lp (NYSE:MPLX - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,485,917 shares of the pipeline company's stock after selling 80,441 shares during the quarter. Mplx comprises 11.3% of Chickasaw Capital Management LLC's holdings, making the stock its 2nd biggest position. Chickasaw Capital Management LLC owned approximately 0.54% of Mplx worth $293,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPLX. CFO4Life Group LLC grew its position in Mplx by 1.1% in the 4th quarter. CFO4Life Group LLC now owns 19,200 shares of the pipeline company's stock valued at $919,000 after buying an additional 200 shares in the last quarter. RE Dickinson Investment Advisors LLC boosted its holdings in shares of Mplx by 11.5% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company's stock valued at $96,000 after acquiring an additional 208 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Mplx by 1.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 21,520 shares of the pipeline company's stock valued at $1,030,000 after acquiring an additional 231 shares during the period. GraniteShares Advisors LLC raised its holdings in Mplx by 0.5% during the fourth quarter. GraniteShares Advisors LLC now owns 51,441 shares of the pipeline company's stock worth $2,462,000 after purchasing an additional 237 shares in the last quarter. Finally, Curi RMB Capital LLC lifted its position in Mplx by 1.2% in the fourth quarter. Curi RMB Capital LLC now owns 25,385 shares of the pipeline company's stock worth $1,215,000 after purchasing an additional 290 shares during the period. Institutional investors own 24.25% of the company's stock.

Mplx Trading Up 0.4%

Mplx stock traded up $0.20 during midday trading on Thursday, reaching $51.23. The stock had a trading volume of 880,683 shares, compared to its average volume of 1,700,883. Mplx Lp has a twelve month low of $39.95 and a twelve month high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a market cap of $52.29 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.69 and a beta of 0.76. The firm's fifty day simple moving average is $50.51 and its two-hundred day simple moving average is $50.83.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. The business had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $3.15 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. Mplx's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. Equities analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were issued a $0.9565 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.47%. Mplx's dividend payout ratio is 88.22%.

Insider Transactions at Mplx

In other news, VP Shawn M. Lyon acquired 4,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $52.75 per share, for a total transaction of $211,000.00. Following the completion of the acquisition, the vice president now owns 25,299 shares in the company, valued at approximately $1,334,522.25. The trade was a 18.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of research firms have recently commented on MPLX. Wells Fargo & Company boosted their price objective on Mplx from $54.00 to $59.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Barclays dropped their price target on shares of Mplx from $55.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Royal Bank of Canada raised their price objective on shares of Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Monday, March 17th. Raymond James upped their price target on Mplx from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Morgan Stanley raised their price objective on Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.50.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.