Allspring Global Investments Holdings LLC Increases Stock Holdings in Mplx Lp (NYSE:MPLX)

Allspring Global Investments Holdings LLC grew its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 65.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,200 shares of the pipeline company's stock after acquiring an additional 5,200 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Mplx were worth $632,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors raised its position in Mplx by 0.4% in the 3rd quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company's stock worth $2,689,000 after purchasing an additional 231 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in shares of Mplx by 1.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company's stock valued at $876,000 after buying an additional 268 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings in shares of Mplx by 2.0% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 14,489 shares of the pipeline company's stock worth $693,000 after buying an additional 285 shares during the period. FORA Capital LLC lifted its stake in shares of Mplx by 2.2% in the 3rd quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company's stock valued at $681,000 after acquiring an additional 332 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its holdings in Mplx by 3.9% during the 3rd quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company's stock valued at $396,000 after acquiring an additional 338 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Up 3.2 %

Shares of MPLX stock traded up $1.65 during midday trading on Friday, reaching $53.89. 1,980,289 shares of the stock were exchanged, compared to its average volume of 1,828,344. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. Mplx Lp has a 1 year low of $38.44 and a 1 year high of $54.74. The firm has a market cap of $54.90 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. The company's 50 day moving average is $51.01 and its two-hundred day moving average is $47.17.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.03. The business had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. On average, equities research analysts predict that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx's payout ratio is 90.74%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MPLX. Wells Fargo & Company raised their target price on shares of Mplx from $54.00 to $59.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Barclays boosted their price objective on shares of Mplx from $49.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Royal Bank of Canada upped their price objective on shares of Mplx from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Monday, November 18th. Truist Financial raised their target price on Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Finally, Raymond James upped their price target on Mplx from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Mplx presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.11.

About Mplx

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.