Mplx Lp (NYSE:MPLX) Shares Purchased by Progeny 3 Inc.

Progeny 3 Inc. increased its position in shares of Mplx Lp (NYSE:MPLX - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,036,859 shares of the pipeline company's stock after purchasing an additional 21,400 shares during the quarter. Mplx accounts for approximately 3.9% of Progeny 3 Inc.'s investment portfolio, making the stock its 10th largest position. Progeny 3 Inc. owned 0.10% of Mplx worth $49,624,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. FMR LLC raised its stake in shares of Mplx by 141.1% during the fourth quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock valued at $95,011,000 after acquiring an additional 1,161,714 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Mplx by 5,070.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company's stock valued at $46,797,000 after acquiring an additional 958,881 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Mplx during the fourth quarter worth approximately $41,917,000. Neuberger Berman Group LLC lifted its holdings in shares of Mplx by 221.9% in the fourth quarter. Neuberger Berman Group LLC now owns 643,995 shares of the pipeline company's stock valued at $30,822,000 after purchasing an additional 443,910 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 during the last quarter. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Price Performance

Shares of MPLX traded down $0.33 during trading hours on Tuesday, hitting $51.52. 280,446 shares of the stock were exchanged, compared to its average volume of 1,864,996. Mplx Lp has a 12-month low of $39.95 and a 12-month high of $54.87. The company has a market cap of $52.67 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76. The stock's 50-day moving average price is $51.18 and its two-hundred day moving average price is $50.48. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $3.15 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. Mplx's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. Research analysts expect that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a $0.9565 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.83 dividend on an annualized basis and a yield of 7.43%. Mplx's payout ratio is currently 88.22%.

Insider Buying and Selling

In related news, VP Shawn M. Lyon acquired 4,000 shares of the 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 completion of the transaction, the vice president now 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 filing with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Several research firms recently commented on MPLX. 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 note on Thursday, February 6th. Barclays dropped 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. Raymond James lifted their price target on shares of Mplx from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Morgan Stanley upped their price objective on shares of Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. Finally, StockNews.com cut Mplx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.50.

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.