Mplx Lp (NYSE:MPLX) Shares Sold by Principal Street Partners LLC

Principal Street Partners LLC lessened its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 54.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,518 shares of the pipeline company's stock after selling 7,735 shares during the period. Principal Street Partners LLC's holdings in Mplx were worth $312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its position in Mplx by 141.1% during the fourth quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock worth $95,011,000 after purchasing an additional 1,161,714 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in Mplx by 5,070.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company's stock worth $46,797,000 after purchasing an additional 958,881 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Mplx during the fourth quarter worth $41,917,000. Neuberger Berman Group LLC boosted its position in Mplx by 221.9% during the fourth quarter. Neuberger Berman Group LLC now owns 643,995 shares of the pipeline company's stock worth $30,822,000 after purchasing an additional 443,910 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Mplx by 4.0% during the fourth 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. Institutional investors and hedge funds own 24.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MPLX shares. Royal Bank of Canada boosted their target price on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. Raymond James boosted their target price on Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Morgan Stanley boosted their target price on Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 11th. Wall Street Zen downgraded Mplx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Finally, Wells Fargo & Company upped their price objective on Mplx from $54.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. One equities research 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 has a consensus rating of "Moderate Buy" and a consensus price target of $55.50.

Mplx Price Performance

Shares of NYSE:MPLX traded up $0.22 on Friday, hitting $50.54. The company had a trading volume of 1,033,226 shares, compared to its average volume of 1,714,637. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. Mplx Lp has a 52-week low of $39.95 and a 52-week high of $54.87. The business has a 50 day moving average of $50.94 and a 200 day moving average of $50.57. The company has a market cap of $51.59 billion, a PE ratio of 12.00, a PEG ratio of 1.69 and a beta of 0.76.

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

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were paid a $0.9565 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.83 annualized dividend and a yield of 7.57%. Mplx's payout ratio is currently 88.22%.

Insider Activity at Mplx

In other Mplx news, VP Shawn M. Lyon bought 4,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $52.75 per share, for a total transaction of $211,000.00. Following the completion of the purchase, the vice president now owns 25,299 shares of the company's stock, valued at $1,334,522.25. This trade represents a 18.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mplx Profile

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.