Mplx (NYSE:MPLX) Stock Sees Heavy Put Option Buying

Mplx Lp (NYSE:MPLX) was the target of unusually large options trading activity on Friday. Stock investors acquired 3,141 put options on the company. This represents an increase of approximately 47% compared to the typical volume of 2,137 put options.

Mplx Price Performance

NYSE MPLX traded down $1.11 during mid-day trading on Friday, hitting $56.87. The stock had a trading volume of 725,254 shares, compared to its average volume of 1,695,251. The firm’s 50 day moving average is $58.86 and its 200 day moving average is $57.26. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.89 and a quick ratio of 0.83. The stock has a market capitalization of $57.65 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 5.63 and a beta of 0.48. Mplx has a twelve month low of $47.80 and a twelve month high of $60.95.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Mplx had a net margin of 35.75% and a return on equity of 32.83%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS. Equities research analysts forecast that Mplx will post 4.26 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were paid a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Friday, August 7th. Mplx’s dividend payout ratio is currently 92.69%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MPLX. Morgan Stanley upped their price target on Mplx from $60.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. Barclays boosted their price objective on Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Wolfe Research lowered Mplx from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 29th. Zacks Research raised shares of Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Mplx currently has a consensus rating of “Moderate Buy” and an average target price of $63.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Trust Co. of Vermont acquired a new position in Mplx during the second quarter worth $28,000. Assetmark Inc. raised its holdings in shares of Mplx by 81.5% during the 1st quarter. Assetmark Inc. now owns 559 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 251 shares during the period. Axiom Investment Management LLC purchased a new position in shares of Mplx during the 1st quarter worth $46,000. 1 North Wealth Services LLC acquired a new position in shares of Mplx during the 4th quarter valued at about $56,000. Finally, Western Wealth Management LLC acquired a new position in shares of Mplx during the 1st quarter valued at about $65,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

About Mplx

MPLX LP (NYSE:MPLX) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides transportation, storage and processing services for crude oil, refined products, natural gas and natural gas liquids (NGLs), supporting producers, refiners and other energy customers.

MPLX’s assets include gathering and processing systems, pipelines, storage facilities, fractionation plants, marine terminals and inland and coastal logistics operations.