Insider Buying: Mplx Lp (NYSE:MPLX) VP Purchases 4,000 Shares of Stock

Mplx Lp (NYSE:MPLX) Vice President, Shawn M. Lyon, has made a significant move in the stock market by purchasing 4,000 shares of the company’s stock on March 7th. The shares were acquired at an average price of $52.75 each, bringing the total investment to approximately $211,000. Following this transaction, VP Lyon now holds a total of 25,299 shares in Mplx, which holds an estimated value of about $1,334,522.25. This latest purchase reflects an 18.78% increase in his ownership stake in the company. Lyon's transaction was reported in a filing submitted to the SEC, which can be accessed via their official site.

Current Stock Performance of Mplx

Mplx stock opened at $52.50 on Wednesday, showing positive momentum. The company boasts a 50-day simple moving average of $51.84 and a two-hundred-day simple moving average of $47.88. Mplx Lp has a quick ratio of 0.95 and a current ratio of 0.99, alongside a debt-to-equity ratio of 1.40. Over the past year, the stock reached a low of $39.56 and a high of $54.79. With a market capitalization of $53.69 billion, Mplx has a price-to-earnings ratio of 12.47 and a PEG ratio of 1.69.

Quarterly Earnings Results

On February 4th, Mplx reported its latest quarterly earnings. The pipeline company announced earnings per share (EPS) of $1.07, surpassing analysts' expectations of $1.04 by $0.03. Revenue for the quarter stood at $3.06 billion, very close to the consensus estimate of $3.07 billion. Mplx's net margin was recorded at 36.18%, with a return on equity amounting to 31.94%. When compared to the previous year, the company's revenue saw a year-over-year increase of 3.3%. Analysts anticipate that Mplx Lp will report an EPS of 4.41 for the ongoing fiscal year.

Dividends Announced by Mplx

Additionally, Mplx recently announced the distribution of its quarterly dividend, which was paid on February 14th to stockholders recorded on February 3rd. These shareholders received a dividend of $0.9565 per share, resulting in an annualized dividend of $3.83 and a dividend yield of 7.29%. Mplx's current dividend payout ratio is 90.74%.

Institutional Holdings of Mplx

A variety of institutional investors have adjusted their holdings in Mplx recently. For instance, ING Groep NV increased its shares by 69.8% during the third quarter and now owns 6,628,400 shares valued at $294.7 million. Moreover, FMR LLC raised their holdings by 141.1% in the fourth quarter, acquiring 1,985,181 shares valued at $95 million. Other significant increases include Strategic Financial Concepts LLC, Raymond James Financial Inc., and Neuberger Berman Group LLC, all of which have recently bolstered their positions in the stock. Overall, 24.25% of Mplx shares are currently owned by hedge funds and other institutional investors.

Analyst Ratings and Price Targets

Several research analysts have provided insights regarding MPLX's stock. Truist Financial increased its price target from $48.00 to $55.00 while maintaining a “buy” rating as of November. In contrast, StockNews.com downgraded MPLX shares from a “strong-buy” to a “buy” rating recently. Raymond James also adjusted their price forecast upward from $55.00 to $60.00 with an “outperform” rating. Barclays set a new price target of $52.00 with an “overweight” rating, while UBS Group adjusted their target from $51.00 to $55.00 with a “buy” rating. Presently, Mplx has one 'sell' rating, one 'hold' rating, and nine 'buy' ratings, with an average rating of 'Moderate Buy' and a consensus price target of $53.10.

About Mplx Lp

MPLX LP is involved in operating midstream energy infrastructure and logistics assets, as well as fuel distribution services. The company conducts its business through two primary segments: Logistics and Storage (L&S) and Gathering and Processing (G&P). The L&S segment focuses on the transportation, storage, distribution, and marketing of crude oil, asphalt, refined petroleum products, and water.

stock, investment, dividend, shares, earnings