Cedar Wealth Management LLC Sells 392 Shares of Mplx Lp (NYSE:MPLX)

Cedar Wealth Management LLC lessened its holdings in shares of Mplx Lp (NYSE:MPLX) by 34.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 754 shares of the pipeline company’s stock after selling 392 shares during the period. Cedar Wealth Management LLC’s holdings in Mplx were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MPLX. CFO4Life Group LLC raised its position in Mplx by 1.1% in the 4th quarter. CFO4Life Group LLC now owns 19,200 shares of the pipeline company’s stock worth $919,000 after buying an additional 200 shares during the last quarter. Captrust Financial Advisors raised its position in Mplx by 0.4% in the 3rd quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock worth $2,689,000 after buying an additional 231 shares during the last quarter. GraniteShares Advisors LLC raised its position in Mplx by 0.5% in the 4th quarter. GraniteShares Advisors LLC now owns 51,441 shares of the pipeline company’s stock worth $2,462,000 after buying an additional 237 shares during the last quarter. Cherry Creek Investment Advisors Inc. raised its position in Mplx by 2.0% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 14,489 shares of the pipeline company’s stock worth $693,000 after buying an additional 285 shares during the last quarter. Finally, FORA Capital LLC raised its position in Mplx by 2.2% in the 3rd quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock worth $681,000 after buying an additional 332 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Insiders Place Their Bets

In other Mplx news, VP Shawn M. Lyon bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $52.75 per share, with a total value of $211,000.00. Following the completion of the acquisition, the vice president now owns 25,299 shares in the company, valued at $1,334,522.25. This trade represents a 18.78 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Mplx Trading Down 0.7 %

MPLX stock opened at $53.68 on Friday. Mplx Lp has a 1-year low of $39.56 and a 1-year high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The company has a market capitalization of $54.89 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.69 and a beta of 1.40. The business has a 50 day simple moving average of $52.71 and a two-hundred day simple moving average of $48.46.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the prior year, the company posted $1.10 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $0.9565 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.83 annualized dividend and a yield of 7.13%. Mplx’s payout ratio is 90.74%.

Analyst Ratings Changes

MPLX has been the subject of a number of recent analyst reports. Barclays boosted their target price on Mplx from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Wells Fargo & Company boosted their target price on Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Morgan Stanley upped their price target on shares of Mplx from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Raymond James upped their price target on shares of Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.