Greenup Street Wealth Management LLC Sells 23,866 Shares of Mplx Lp $MPLX

Greenup Street Wealth Management LLC reduced its holdings in shares of Mplx Lp (NYSE:MPLX) by 41.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,412 shares of the pipeline company’s stock after selling 23,866 shares during the period. Greenup Street Wealth Management LLC’s holdings in Mplx were worth $1,719,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MPLX. Chickasaw Capital Management LLC lifted its position in Mplx by 2.2% during the third quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock valued at $280,311,000 after purchasing an additional 120,216 shares in the last quarter. Keudell Morrison Wealth Management purchased a new stake in Mplx in the second quarter worth about $335,000. Hilltop National Bank bought a new position in shares of Mplx in the second quarter worth about $330,000. Walnut Private Equity Partners LLC raised its stake in shares of Mplx by 14.8% in the second quarter. Walnut Private Equity Partners LLC now owns 242,300 shares of the pipeline company’s stock worth $12,481,000 after buying an additional 31,300 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Mplx during the 2nd quarter valued at about $776,894,000. 24.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MPLX. Royal Bank Of Canada increased their target price on shares of Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Wells Fargo & Company dropped their price target on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, September 23rd. Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a research report on Monday. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 target price on shares of Mplx in a research note on Monday, December 1st. Finally, Barclays upped their target price on shares of Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Mplx currently has an average rating of “Moderate Buy” and an average target price of $59.00.

Mplx Price Performance

MPLX stock opened at $53.96 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.26 and a current ratio of 1.31. The company’s fifty day moving average price is $52.93 and its 200-day moving average price is $51.42. Mplx Lp has a one year low of $44.60 and a one year high of $56.26. The company has a market capitalization of $54.88 billion, a PE ratio of 11.43 and a beta of 0.56.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.45. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Mplx had a net margin of 37.61% and a return on equity of 34.14%. On average, equities analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were issued a $1.0765 dividend. This represents a $4.31 annualized dividend and a dividend yield of 8.0%. This is a positive change from Mplx’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Friday, November 7th. Mplx’s payout ratio is presently 91.31%.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.