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

Greenup Street Wealth Management LLC trimmed its position in shares of Mplx Lp (NYSE:MPLX) by 41.0% during the 3rd quarter, Holdings Channel reports. 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 reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Private Wealth Asset Management LLC bought a new stake in Mplx in the second quarter worth $26,000. Elevation Point Wealth Partners LLC bought a new position in Mplx during the second quarter valued at $26,000. FSC Wealth Advisors LLC purchased a new position in shares of Mplx in the 2nd quarter worth $29,000. Operose Advisors LLC increased its holdings in shares of Mplx by 216.2% in the 2nd quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 400 shares during the last quarter. Finally, EQ Wealth Advisors LLC bought a new stake in shares of Mplx in the 2nd quarter worth about $31,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPLX has been the subject of a number of analyst reports. Royal Bank Of Canada increased their price target on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Barclays upped their price objective on Mplx from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Wells Fargo & Company cut their target price on Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 23rd. Finally, Morgan Stanley increased their price target on Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.00.

Mplx Stock Down 0.1%

Shares of NYSE MPLX opened at $53.96 on Friday. Mplx Lp has a 1 year low of $44.60 and a 1 year high of $56.26. The firm has a 50-day simple moving average of $52.93 and a two-hundred day simple moving average of $51.42. The company has a market cap of $54.88 billion, a P/E ratio of 11.43 and a beta of 0.56. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.31 and a quick ratio of 1.26.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.45. Mplx had a return on equity of 34.14% and a net margin of 37.61%.The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.16 billion. Research analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were given a dividend of $1.0765 per share. 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 was Friday, November 7th. Mplx’s dividend payout ratio is 91.31%.

Mplx 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.