GraniteShares Advisors LLC Decreases Stake in Mplx Lp $MPLX

GraniteShares Advisors LLC reduced its position in Mplx Lp (NYSE:MPLX) by 21.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,391 shares of the pipeline company’s stock after selling 13,666 shares during the period. GraniteShares Advisors LLC’s holdings in Mplx were worth $2,689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC acquired a new position in Mplx during the 3rd quarter worth $2,698,000. Fort Washington Investment Advisors Inc. OH acquired a new position in Mplx during the 3rd quarter worth $990,000. Bridges Investment Management Inc. increased its holdings in Mplx by 53.2% in the third quarter. Bridges Investment Management Inc. now owns 103,351 shares of the pipeline company’s stock valued at $5,162,000 after buying an additional 35,869 shares during the last quarter. Alps Advisors Inc. raised its stake in Mplx by 1.2% during the third quarter. Alps Advisors Inc. now owns 26,409,654 shares of the pipeline company’s stock valued at $1,319,162,000 after buying an additional 325,451 shares in the last quarter. Finally, Texas Yale Capital Corp. raised its stake in Mplx by 8.9% during the third quarter. Texas Yale Capital Corp. now owns 299,845 shares of the pipeline company’s stock valued at $14,977,000 after buying an additional 24,405 shares in the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MPLX has been the topic of several research reports. Barclays upped their price objective on Mplx from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Stifel Nicolaus lifted their target price on Mplx from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Truist Financial decreased their target price on Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a research report on Monday, December 29th. Finally, Wells Fargo & Company lifted their target price on Mplx from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. One 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. According to data from MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Mplx Stock Down 0.4%

Mplx stock opened at $55.64 on Tuesday. The company has a 50-day simple moving average of $57.35 and a 200-day simple moving average of $54.58. The firm has a market capitalization of $56.48 billion, a P/E ratio of 11.54, a P/E/G ratio of 5.17 and a beta of 0.56. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.23. Mplx Lp has a one year low of $47.80 and a one year high of $59.98.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.10 by $0.07. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $3.23 billion. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. As a group, equities analysts expect that Mplx Lp will post 4.38 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were issued a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Monday, February 9th. Mplx’s dividend payout ratio (DPR) is 89.42%.

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.