Avidian Wealth Enterprises LLC Lowers Stock Position in Mplx Lp (NYSE:MPLX)

Avidian Wealth Enterprises LLC reduced its position in shares of Mplx Lp (NYSE:MPLX - Free Report) by 53.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,610 shares of the pipeline company's stock after selling 6,545 shares during the period. Avidian Wealth Enterprises LLC's holdings in Mplx were worth $268,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MPLX. Geneos Wealth Management Inc. lifted its position in Mplx by 56.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company's stock valued at $54,000 after purchasing an additional 409 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in shares of Mplx during the 3rd quarter worth $51,000. Crewe Advisors LLC purchased a new position in Mplx in the fourth quarter worth $98,000. Farther Finance Advisors LLC increased its stake in Mplx by 393.0% in the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company's stock valued at $153,000 after acquiring an additional 2,751 shares during the last quarter. Finally, Archford Capital Strategies LLC purchased a new stake in Mplx during the fourth quarter valued at about $200,000. Institutional investors own 24.25% of the company's stock.

Mplx Trading Up 0.3 %

MPLX traded up $0.18 during midday trading on Monday, reaching $53.89. 1,749,230 shares of the company's stock traded hands, compared to its average volume of 1,927,670. Mplx Lp has a 52 week low of $38.22 and a 52 week high of $54.52. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a fifty day moving average of $49.99 and a two-hundred day moving average of $46.51. The stock has a market capitalization of $54.91 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 2.38 and a beta of 1.42.

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Mplx (NYSE:MPLX - Get Free Report) last announced its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Mplx Lp will post 4.39 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.10%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx's payout ratio is currently 90.97%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. UBS Group boosted their target price on Mplx from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Truist Financial upped their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Raymond James lifted their target price on shares of Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Royal Bank of Canada upped their price target on shares of Mplx from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Finally, Barclays lifted their price objective on 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.11.

Mplx 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.