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

Sanctuary Advisors LLC lessened its stake in shares of Mplx Lp (NYSE:MPLX) by 21.4% during the first quarter, Holdings Channel reports. The fund owned 34,374 shares of the pipeline company’s stock after selling 9,361 shares during the quarter. Sanctuary Advisors LLC’s holdings in Mplx were worth $1,962,000 as of its most recent SEC filing.

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

Mplx Stock Performance

Shares of MPLX opened at $56.61 on Thursday. The stock has a 50 day moving average of $56.35 and a 200 day moving average of $56.32. The company has a market capitalization of $57.44 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 5.43 and a beta of 0.47. Mplx Lp has a 12 month low of $47.80 and a 12 month high of $59.98. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 EPS. As a group, sell-side analysts forecast 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. Stockholders of record on Friday, May 8th were paid a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Friday, May 8th. Mplx’s payout ratio is presently 93.29%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial decreased their target price on Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company cut their price target on Mplx from $63.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Barclays boosted their price objective on Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $60.00 target price on shares of Mplx in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.60.

Mplx Company 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.