Mplx Lp $MPLX Shares Sold by Lido Advisors LLC

Lido Advisors LLC lessened its stake in Mplx Lp (NYSE:MPLX) by 41.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,155 shares of the pipeline company’s stock after selling 26,249 shares during the quarter. Lido Advisors LLC’s holdings in Mplx were worth $2,120,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MPLX. EQ Wealth Advisors LLC acquired a new stake in Mplx during the fourth quarter valued at approximately $32,000. Assetmark Inc. boosted its holdings in Mplx by 81.5% in the first quarter. Assetmark Inc. now owns 559 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 251 shares during the period. Wiser Advisor Group LLC acquired a new position in Mplx in the third quarter worth $38,000. Prosperity Bancshares Inc acquired a new position in Mplx in the fourth quarter worth $43,000. Finally, Groesbeck Investment Management Corp NJ bought a new stake in Mplx during the fourth quarter valued at $49,000. Institutional investors own 24.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Truist Financial lowered their price objective on shares of Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Morgan Stanley cut their target price on shares of Mplx from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 20th. Finally, Wall Street Zen downgraded Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and an average price target of $61.60.

Mplx Price Performance

Shares of NYSE MPLX opened at $58.74 on Monday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.05. The firm has a market capitalization of $59.61 billion, a PE ratio of 12.72, a P/E/G ratio of 5.66 and a beta of 0.47. Mplx Lp has a 1-year low of $47.80 and a 1-year high of $59.98. The business’s fifty day moving average price is $56.47 and its two-hundred day moving average price is $56.39.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.15). The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.10 EPS. On average, research analysts expect that Mplx Lp will post 4.19 EPS for the current year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend was Friday, May 8th. Mplx’s payout ratio is presently 93.29%.

About Mplx

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.