Progeny 3 Inc. Buys 21,400 Shares of Mplx Lp (NYSE:MPLX)

Progeny 3 Inc. raised its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,036,859 shares of the pipeline company's stock after acquiring an additional 21,400 shares during the period. Mplx comprises about 3.9% of Progeny 3 Inc.'s investment portfolio, making the stock its 10th largest holding. Progeny 3 Inc. owned about 0.10% of Mplx worth $49,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Mplx by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock valued at $330,448,000 after purchasing an additional 266,998 shares in the last quarter. Eagle Global Advisors LLC lifted its holdings in shares of Mplx by 14.6% in the fourth quarter. Eagle Global Advisors LLC now owns 1,857,003 shares of the pipeline company's stock valued at $88,876,000 after purchasing an additional 235,977 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Mplx by 147.7% in the fourth quarter. Cresset Asset Management LLC now owns 57,698 shares of the pipeline company's stock valued at $2,761,000 after purchasing an additional 34,404 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Mplx by 11.4% in the fourth quarter. Cetera Investment Advisers now owns 162,113 shares of the pipeline company's stock valued at $7,759,000 after purchasing an additional 16,574 shares in the last quarter. Finally, BROOKFIELD Corp ON lifted its holdings in shares of Mplx by 1.9% in the fourth quarter. BROOKFIELD Corp ON now owns 4,221,615 shares of the pipeline company's stock valued at $202,047,000 after purchasing an additional 79,799 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Performance

MPLX traded up $0.48 during trading hours on Friday, reaching $52.12. The company's stock had a trading volume of 1,370,057 shares, compared to its average volume of 1,728,866. Mplx Lp has a 52 week low of $39.95 and a 52 week high of $54.87. The company's 50-day moving average is $51.21 and its 200-day moving average is $50.39. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market cap of $53.29 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76.

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 for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were paid a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend was Friday, May 9th. Mplx's dividend payout ratio (DPR) is presently 88.22%.

Insider Activity at Mplx

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

Analyst Upgrades and Downgrades

MPLX has been the topic of several analyst reports. Raymond James upped their target price on Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. StockNews.com cut Mplx from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Wells Fargo & Company upped 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 objective on Mplx from $55.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Finally, Royal Bank of Canada upped their price objective on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th. One 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $55.50.

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.