Tidal Investments LLC Cuts Holdings in Mplx Lp (NYSE:MPLX)

Tidal Investments LLC cut its position in Mplx Lp (NYSE:MPLX - Free Report) by 34.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,674 shares of the pipeline company's stock after selling 5,090 shares during the quarter. Tidal Investments LLC's holdings in Mplx were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Mplx by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock worth $330,448,000 after purchasing an additional 266,998 shares in the last quarter. BROOKFIELD Corp ON lifted its holdings in Mplx by 1.9% during the 4th quarter. BROOKFIELD Corp ON now owns 4,221,615 shares of the pipeline company's stock worth $202,047,000 after buying an additional 79,799 shares during the last quarter. FMR LLC lifted its holdings in Mplx by 141.1% during the 4th quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock worth $95,011,000 after buying an additional 1,161,714 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Mplx by 2.0% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,971,331 shares of the pipeline company's stock worth $94,348,000 after buying an additional 37,845 shares during the last quarter. Finally, Eagle Global Advisors LLC lifted its holdings in Mplx by 14.6% during the 4th quarter. Eagle Global Advisors LLC now owns 1,857,003 shares of the pipeline company's stock worth $88,876,000 after buying an additional 235,977 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MPLX shares. Wall Street Zen downgraded Mplx from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Royal Bank of Canada boosted their target price on Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Monday, March 17th. Morgan Stanley boosted their target price on Mplx from $56.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Barclays reduced their target price on Mplx from $55.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Finally, Wells Fargo & Company boosted their target price on Mplx from $54.00 to $59.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Mplx has an average rating of "Moderate Buy" and an average target price of $55.50.

Insider Transactions at Mplx

In other Mplx news, VP Shawn M. Lyon bought 4,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $52.75 per share, with a total value of $211,000.00. Following the purchase, the vice president now owns 25,299 shares in the company, valued at approximately $1,334,522.25. This represents a 18.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mplx Stock Performance

MPLX stock traded up $0.45 during trading on Tuesday, hitting $51.85. The company had a trading volume of 1,030,338 shares, compared to its average volume of 1,705,644. The firm has a market cap of $52.93 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76. Mplx Lp has a 1-year low of $39.95 and a 1-year high of $54.87. The firm has a 50-day moving average price of $50.57 and a 200-day moving average price of $50.83. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. The firm had revenue of $2.89 billion for 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%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, analysts expect that Mplx Lp will post 4.41 earnings per share for the current 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 paid a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date was Friday, May 9th. Mplx's dividend payout ratio (DPR) is 88.22%.

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.