Mplx Lp $MPLX Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its holdings in shares of Mplx Lp (NYSE:MPLX) by 93.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,624 shares of the pipeline company’s stock after selling 23,658 shares during the quarter. Inspire Investing LLC’s holdings in Mplx were worth $93,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Belfer Management LLC boosted its holdings in Mplx by 2.4% in the fourth quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock valued at $419,000 after purchasing an additional 181 shares during the last quarter. Trueblood Wealth Management LLC increased its holdings in Mplx by 1.9% during the 4th quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock worth $520,000 after purchasing an additional 186 shares during the last quarter. Wealthstar Advisors LLC raised its position in shares of Mplx by 1.5% in the 4th quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 190 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in Mplx by 3.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,658 shares of the pipeline company’s stock valued at $302,000 after acquiring an additional 208 shares in the last quarter. Finally, Burford Brothers Inc. boosted its stake in Mplx by 1.2% during the 4th quarter. Burford Brothers Inc. now owns 17,449 shares of the pipeline company’s stock valued at $931,000 after acquiring an additional 209 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MPLX. The Goldman Sachs Group raised their price objective on shares of Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings downgraded Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. boosted their price objective on Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, March 10th. Finally, Morgan Stanley reduced their target price on Mplx from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.60.

Mplx Price Performance

Shares of NYSE:MPLX opened at $57.01 on Tuesday. The company has a market cap of $57.85 billion, a PE ratio of 12.34, a P/E/G ratio of 5.48 and a beta of 0.47. Mplx Lp has a fifty-two week low of $47.80 and a fifty-two week high of $59.98. The firm has a 50-day simple moving average of $55.92 and a 200 day simple moving average of $56.06. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). Mplx had a return on equity of 32.74% and a net margin of 36.38%.The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the business earned $1.10 EPS. The business’s revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Mplx Lp will post 4.22 EPS for the current year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a $1.0765 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $4.31 annualized dividend and a dividend yield of 7.6%. Mplx’s dividend payout ratio (DPR) is 93.07%.

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.