Mplx Lp (MPLX) VP Gregory Scott Floerke Sells 4,000 Shares of Stock
Mplx Lp (NYSE:MPLX) VP Gregory Scott Floerke sold 4,000 shares of Mplx Lp stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $34.69, for a total value of $138,760.00. Following the completion of the transaction, the vice president now owns 83,598 shares of the company’s stock, valued at approximately $2,900,014.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Mplx Lp (NYSE:MPLX) traded up $0.59 on Friday, reaching $35.45. The company had a trading volume of 610,590 shares, compared to its average volume of 1,399,104. Mplx Lp has a one year low of $30.88 and a one year high of $39.43. The company has a current ratio of 0.54, a quick ratio of 0.48 and a debt-to-equity ratio of 0.68. The stock has a market cap of $14,479.90, a PE ratio of 38.31, a P/E/G ratio of 4.95 and a beta of 1.35.
Mplx Lp (NYSE:MPLX) last posted its quarterly earnings data on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Mplx Lp had a return on equity of 5.87% and a net margin of 16.79%. The company had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.07 million. During the same quarter in the previous year, the business earned $0.21 EPS. Mplx Lp’s revenue was up 16.9% compared to the same quarter last year. sell-side analysts anticipate that Mplx Lp will post 1.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, November 6th were issued a dividend of $0.5875 per share. The ex-dividend date was Friday, November 3rd. This represents a $2.35 dividend on an annualized basis and a yield of 6.63%. This is a boost from Mplx Lp’s previous quarterly dividend of $0.56. Mplx Lp’s payout ratio is presently 258.24%.
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A number of institutional investors and hedge funds have recently bought and sold shares of MPLX. US Bancorp DE boosted its holdings in Mplx Lp by 2.5% during the 2nd quarter. US Bancorp DE now owns 72,574 shares of the pipeline company’s stock valued at $2,424,000 after acquiring an additional 1,772 shares during the period. Forsta AP Fonden boosted its holdings in Mplx Lp by 436.3% during the 2nd quarter. Forsta AP Fonden now owns 284,800 shares of the pipeline company’s stock valued at $9,512,000 after acquiring an additional 231,700 shares during the period. Taylor Wealth Management Partners boosted its holdings in Mplx Lp by 580.0% during the 2nd quarter. Taylor Wealth Management Partners now owns 8,500 shares of the pipeline company’s stock valued at $284,000 after acquiring an additional 7,250 shares during the period. Goodwin Daniel L boosted its holdings in Mplx Lp by 33.3% during the 2nd quarter. Goodwin Daniel L now owns 40,000 shares of the pipeline company’s stock valued at $1,336,000 after acquiring an additional 10,000 shares during the period. Finally, ING Groep NV lifted its holdings in shares of Mplx Lp by 2.1% in the 2nd quarter. ING Groep NV now owns 2,375,000 shares of the pipeline company’s stock worth $79,325,000 after buying an additional 49,300 shares during the period. Institutional investors own 58.55% of the company’s stock.
A number of brokerages have recently commented on MPLX. BidaskClub upgraded Mplx Lp from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Royal Bank Of Canada reiterated a “buy” rating on shares of Mplx Lp in a report on Friday, July 28th. Scotiabank reiterated a “buy” rating and issued a $44.00 target price on shares of Mplx Lp in a report on Wednesday, October 4th. UBS AG lifted their target price on Mplx Lp from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Zacks Investment Research cut Mplx Lp from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $41.67.
About Mplx Lp
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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