Mplx Sees Unusually Large Options Volume (NYSE:MPLX)
by Amy Steele · The Cerbat GemMplx Lp (NYSE:MPLX – Get Free Report) saw unusually large options trading on Friday. Stock investors purchased 6,743 call options on the company. This represents an increase of 214% compared to the average volume of 2,146 call options.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chickasaw Capital Management LLC lifted its holdings in shares of Mplx by 2.2% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock worth $280,311,000 after acquiring an additional 120,216 shares during the last quarter. Keudell Morrison Wealth Management purchased a new stake in Mplx during the second quarter valued at about $335,000. Walnut Private Equity Partners LLC lifted its stake in Mplx by 14.8% during the second quarter. Walnut Private Equity Partners LLC now owns 242,300 shares of the pipeline company’s stock worth $12,481,000 after purchasing an additional 31,300 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Mplx in the 2nd quarter worth about $330,000. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Mplx during the 2nd quarter valued at about $776,894,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on MPLX shares. Wells Fargo & Company lowered their price objective on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, September 23rd. Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a report on Monday. Barclays increased their price objective on Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Morgan Stanley lifted their target price on Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Finally, Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.00.
Check Out Our Latest Stock Report on MPLX
Mplx Stock Performance
Shares of MPLX stock traded down $0.12 during trading on Friday, hitting $53.91. The company’s stock had a trading volume of 258,430 shares, compared to its average volume of 1,581,341. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. The company has a market cap of $54.83 billion, a PE ratio of 11.42 and a beta of 0.56. The business has a fifty day moving average of $52.83 and a 200-day moving average of $51.40. Mplx has a 52 week low of $44.60 and a 52 week high of $56.26.
Mplx (NYSE:MPLX – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.45. Mplx had a return on equity of 34.14% and a net margin of 37.61%.The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.16 billion. As a group, research analysts anticipate that Mplx will post 4.41 earnings per share for the current year.
Mplx Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were issued a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a yield of 8.0%. This is a boost from Mplx’s previous quarterly dividend of $0.96. The ex-dividend date was Friday, November 7th. Mplx’s dividend payout ratio is 91.31%.
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.
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