Mplx Lp (NYSE:MPLX) Sees Large Decrease in Short Interest

Mplx Lp (NYSE:MPLX) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 8,980,000 shares, a decrease of 15.2% from the December 15th total of 10,590,000 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is currently 5.0 days.

Analysts Set New Price Targets

Several research firms have weighed in on MPLX. Wells Fargo & Company boosted their price target on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Truist Financial upped their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada raised their price target on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. UBS Group increased their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Barclays raised their target price on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

Mplx Price Performance

NYSE:MPLX traded up $0.36 during trading hours on Friday, reaching $51.17. 1,277,036 shares of the company were exchanged, compared to its average volume of 1,563,796. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The firm has a market cap of $52.13 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 2.81 and a beta of 1.43. Mplx has a twelve month low of $36.79 and a twelve month high of $51.94. The stock’s 50-day moving average is $48.46 and its 200-day moving average is $45.08.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Mplx will post 4.17 earnings per share for the current fiscal year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.48%. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s payout ratio is presently 90.33%.

Insider Buying and Selling

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares in the company, valued at approximately $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Secure Asset Management LLC raised its holdings in Mplx by 9.1% in the 4th quarter. Secure Asset Management LLC now owns 5,511 shares of the pipeline company’s stock valued at $264,000 after acquiring an additional 459 shares during the last quarter. Mutual Advisors LLC grew its position in shares of Mplx by 3.2% in the fourth quarter. Mutual Advisors LLC now owns 12,345 shares of the pipeline company’s stock valued at $627,000 after purchasing an additional 378 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in Mplx by 27.9% during the fourth quarter. Wesbanco Bank Inc. now owns 6,879 shares of the pipeline company’s stock worth $329,000 after buying an additional 1,500 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Mplx by 16.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 52,095 shares of the pipeline company’s stock valued at $2,493,000 after buying an additional 7,201 shares in the last quarter. Finally, Daymark Wealth Partners LLC increased its stake in shares of Mplx by 8.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 37,694 shares of the pipeline company’s stock worth $1,804,000 after acquiring an additional 2,786 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Company 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.