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Mplx Lp (NYSE:MPLX) Shares Sold by DAVENPORT & Co LLC

Mplx logo with Energy background

DAVENPORT & Co LLC lessened its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 12.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 59,583 shares of the pipeline company's stock after selling 8,253 shares during the period. DAVENPORT & Co LLC's holdings in Mplx were worth $3,189,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MPLX. VSM Wealth Advisory LLC purchased a new stake in shares of Mplx in the 4th quarter worth approximately $31,000. JFS Wealth Advisors LLC purchased a new stake in shares of Mplx in the 1st quarter worth approximately $37,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Mplx in the 1st quarter worth approximately $48,000. Generali Asset Management SPA SGR purchased a new stake in shares of Mplx in the 4th quarter worth approximately $56,000. Finally, PSI Advisors LLC lifted its position in shares of Mplx by 32.5% in the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 24.25% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MPLX shares. Barclays decreased their target price on shares of Mplx from $55.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Royal Bank Of Canada increased their target price 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. Finally, Morgan Stanley increased their target price on shares of Mplx from $56.00 to $62.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.50.

View Our Latest Research Report on Mplx

Mplx Stock Down 0.3%

NYSE:MPLX traded down $0.14 during midday trading on Friday, reaching $50.91. 471,419 shares of the stock traded hands, compared to its average volume of 1,672,901. Mplx Lp has a 12-month low of $39.95 and a 12-month high of $54.87. The business has a 50-day moving average of $51.08 and a two-hundred day moving average of $51.21. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.08. The stock has a market capitalization of $51.97 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.58 and a beta of 0.73.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 36.34% and a return on equity of 32.08%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. On average, equities analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders 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 7.52%. Mplx's dividend payout ratio is currently 88.45%.

Mplx Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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