Mplx Lp (NYSE:MPLX) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its holdings in shares of Mplx Lp (NYSE:MPLX) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,514 shares of the pipeline company’s stock after selling 1,408 shares during the period. Kovack Advisors Inc.’s holdings in Mplx were worth $690,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MPLX. Oppenheimer Asset Management Inc. grew its holdings in Mplx by 12.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 33,171 shares of the pipeline company’s stock worth $1,475,000 after acquiring an additional 3,550 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Mplx by 27.2% during the 3rd quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock valued at $2,318,000 after purchasing an additional 11,144 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in shares of Mplx in the 3rd quarter valued at $229,000. CWA Asset Management Group LLC purchased a new position in Mplx in the third quarter valued at $922,000. Finally, Avidian Wealth Enterprises LLC raised its holdings in Mplx by 34.7% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 12,155 shares of the pipeline company’s stock worth $540,000 after purchasing an additional 3,130 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Stock Down 0.8 %

Shares of NYSE:MPLX opened at $45.63 on Thursday. The business has a fifty day moving average of $44.29 and a two-hundred day moving average of $42.63. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The stock has a market cap of $46.57 billion, a P/E ratio of 10.76, a PEG ratio of 1.25 and a beta of 1.37. Mplx Lp has a 52-week low of $35.19 and a 52-week high of $47.62.

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 the consensus estimate of $1.05 by ($0.04). The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. On average, research analysts expect that Mplx Lp will post 4.31 earnings per share for the current year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a dividend of $0.9565 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.38%. Mplx’s dividend payout ratio (DPR) is currently 90.33%.

Analysts Set New Price Targets

A number of analysts have recently commented on MPLX shares. UBS Group boosted their price objective on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Barclays boosted their price target on shares of 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 price objective on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Bank of America started coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.00.

Mplx Profile

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.