Principal Street Partners LLC Has $610,000 Stock Holdings in Mplx Lp (NYSE:MPLX)

Principal Street Partners LLC grew its stake in shares of Mplx Lp (NYSE:MPLX) by 12.8% during the 3rd quarter, Holdings Channel reports. The firm owned 14,253 shares of the pipeline company’s stock after buying an additional 1,612 shares during the period. Principal Street Partners LLC’s holdings in Mplx were worth $610,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MPLX. CWM LLC lifted its stake in Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 451 shares during the last quarter. Summit Securities Group LLC raised its stake in Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after buying an additional 900 shares during the period. Cedar Wealth Management LLC acquired a new stake in shares of Mplx in the third quarter valued at approximately $51,000. Redwood Wealth Management Group LLC bought a new position in shares of Mplx during the 2nd quarter worth approximately $67,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Mplx during the 2nd quarter worth approximately $88,000. Institutional investors own 24.25% of the company’s stock.

Mplx Price Performance

NYSE MPLX traded up $0.41 during midday trading on Tuesday, hitting $49.50. The company had a trading volume of 48,768 shares, compared to its average volume of 1,850,871. Mplx Lp has a twelve month low of $35.51 and a twelve month high of $49.88. The firm has a 50-day moving average price of $45.12 and a 200-day moving average price of $43.01. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $50.43 billion, a PE ratio of 11.58, a P/E/G ratio of 2.89 and a beta of 1.37.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts anticipate that Mplx Lp will post 4.26 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.73%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is 90.33%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial lifted their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday. Barclays boosted their price objective on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their target price on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, UBS Group upped their price objective on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mplx presently has an average rating of “Moderate Buy” and an average price target of $49.44.

Insider Buying and Selling

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.