Sanctuary Advisors LLC Sells 9,361 Shares of Mplx Lp $MPLX

Sanctuary Advisors LLC decreased its position in shares of Mplx Lp (NYSE:MPLX) by 21.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,374 shares of the pipeline company’s stock after selling 9,361 shares during the period. Sanctuary Advisors LLC’s holdings in Mplx were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. EQ Wealth Advisors LLC acquired a new position in Mplx during the fourth quarter worth about $32,000. Wiser Advisor Group LLC acquired a new stake in shares of Mplx in the 3rd quarter valued at approximately $38,000. Prosperity Bancshares Inc bought a new stake in shares of Mplx during the 4th quarter valued at approximately $43,000. Groesbeck Investment Management Corp NJ bought a new stake in shares of Mplx during the 4th quarter valued at approximately $49,000. Finally, WFA of San Diego LLC bought a new stake in shares of Mplx during the 2nd quarter valued at approximately $52,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on MPLX. Morgan Stanley dropped their price objective on shares of Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. Wells Fargo & Company lowered their price target on shares of Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Truist Financial cut their price objective on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings lowered Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Finally, Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.60.

Mplx Price Performance

MPLX stock opened at $56.61 on Thursday. The firm has a market cap of $57.44 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 5.43 and a beta of 0.47. 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 Lp has a 12-month low of $47.80 and a 12-month high of $59.98. The company’s fifty day simple moving average is $56.35 and its 200 day simple moving average is $56.32.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share 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 for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. On average, analysts expect that Mplx Lp will post 4.21 earnings per share for the current year.

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a dividend of $1.0765 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $4.31 annualized dividend and a yield of 7.6%. Mplx’s dividend payout ratio (DPR) is currently 93.29%.

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.