XTX Topco Ltd Sells 12,831 Shares of MPLX LP (NYSE:MPLX)

Key Points

• XTX Topco Ltd reduced its stake in Mplx Lp by 29.3%, selling 12,831 shares and now holding 31,019 shares worth $1,660,000.
• Barclays raised its price target for Mplx from $52.00 to $53.00, maintaining an "overweight" rating, while analysts give the stock a consensus rating of "Moderate Buy".
• Mplx has announced a quarterly dividend of $0.9565, representing an annual yield of 7.3% and a payout ratio of 88.45%.

XTX Topco Ltd lessened its stake in shares of MPLX LP (NYSE:MPLX - Free Report) by 29.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,019 shares of the pipeline company's stock after selling 12,831 shares during the quarter. XTX Topco Ltd's holdings in MPLX were worth $1,660,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Colonial River Investments LLC lifted its stake in MPLX by 1.8% in the first quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock worth $621,000 after acquiring an additional 200 shares during the period. Axxcess Wealth Management LLC lifted its stake in MPLX by 1.8% in the first quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company's stock worth $621,000 after acquiring an additional 200 shares during the period. RE Dickinson Investment Advisors LLC raised its holdings in MPLX by 11.5% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company's stock worth $96,000 after purchasing an additional 208 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in MPLX by 1.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 21,520 shares of the pipeline company's stock worth $1,030,000 after purchasing an additional 231 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. raised its holdings in MPLX by 1.8% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company's stock worth $789,000 after purchasing an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company's stock.

Wall Street Analysts Forecast Growth

MPLX has been the subject of a number of research reports. Wall Street Zen downgraded MPLX from a "buy" rating to a "hold" rating in a report on Saturday. Barclays increased their price objective on MPLX from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $55.63.

MPLX Stock Performance

Shares of MPLX stock traded down $0.57 during trading on Friday, hitting $51.93. 1,331,363 shares of the company's stock traded hands, compared to its average volume of 1,049,724. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 1.04. MPLX LP has a 1 year low of $39.95 and a 1 year high of $54.87. The stock has a market capitalization of $53.01 billion, a P/E ratio of 11.99, a PEG ratio of 1.35 and a beta of 0.73. The business has a 50-day simple moving average of $51.18 and a 200-day simple moving average of $51.59.

MPLX (NYSE:MPLX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. MPLX had a return on equity of 32.08% and a net margin of 36.34%. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the firm posted $0.98 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts forecast that MPLX LP will post 4.41 EPS for the current year.

MPLX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be given a dividend of $0.9565 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.4%. MPLX's payout ratio is currently 88.45%.

MPLX Company 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.