IFG Advisory LLC Sells 20,918 Shares of Mplx Lp $MPLX

IFG Advisory LLC decreased its position in Mplx Lp (NYSE:MPLX) by 70.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,838 shares of the pipeline company’s stock after selling 20,918 shares during the quarter. IFG Advisory LLC’s holdings in Mplx were worth $441,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new position in shares of Mplx during the second quarter worth about $26,000. FSC Wealth Advisors LLC acquired a new stake in Mplx in the 2nd quarter valued at approximately $29,000. Operose Advisors LLC raised its position in Mplx by 216.2% in the 2nd quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after buying an additional 400 shares during the last quarter. Caldwell Trust Co bought a new stake in Mplx in the 2nd quarter valued at approximately $33,000. Finally, Root Financial Partners LLC acquired a new position in Mplx during the 3rd quarter worth approximately $39,000. 24.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MPLX shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price target on shares of Mplx in a research note on Monday, December 1st. Morgan Stanley boosted their price objective on shares of Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Barclays increased 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. Wall Street Zen raised shares of Mplx from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Royal Bank Of Canada lifted their price target on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and a consensus price target of $58.14.

Mplx Stock Down 0.0%

NYSE:MPLX opened at $58.64 on Friday. The firm has a market capitalization of $59.64 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 5.26 and a beta of 0.56. Mplx Lp has a twelve month low of $44.60 and a twelve month high of $59.84. The stock’s 50 day moving average price is $55.93 and its two-hundred day moving average price is $53.14. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 1.66.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend was Monday, February 9th. Mplx’s dividend payout ratio is 89.42%.

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.