Heritage Trust Co Purchases New Shares in Mplx Lp (NYSE:MPLX)

Heritage Trust Co purchased a new position in shares of Mplx Lp (NYSE:MPLX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,603 shares of the pipeline company's stock, valued at approximately $316,000.

Other institutional investors also recently modified their holdings of the company. PFG Investments LLC lifted its stake in shares of Mplx by 38.5% in the 4th quarter. PFG Investments LLC now owns 38,506 shares of the pipeline company's stock valued at $1,843,000 after purchasing an additional 10,705 shares during the period. Walnut Private Equity Partners LLC grew its stake in Mplx by 479.6% in the fourth quarter. Walnut Private Equity Partners LLC now owns 153,600 shares of the pipeline company's stock valued at $7,351,000 after acquiring an additional 127,100 shares during the period. MML Investors Services LLC increased its holdings in shares of Mplx by 387.5% during the third quarter. MML Investors Services LLC now owns 23,543 shares of the pipeline company's stock valued at $1,047,000 after acquiring an additional 18,714 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Mplx by 9,134.1% in the 4th quarter. Larson Financial Group LLC now owns 11,635 shares of the pipeline company's stock worth $557,000 after purchasing an additional 11,509 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in Mplx by 0.5% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,506,962 shares of the pipeline company's stock valued at $72,123,000 after purchasing an additional 8,166 shares during the period. Institutional investors own 24.25% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Mplx from $54.00 to $59.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. StockNews.com cut shares of Mplx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Morgan Stanley upped their target price on Mplx from $56.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Royal Bank of Canada upped their price objective on Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a research note on Monday, March 17th. Finally, Barclays lifted their target price on Mplx from $52.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $54.00.

Insider Buying and Selling at Mplx

In other Mplx news, VP Shawn M. Lyon bought 4,000 shares of Mplx stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $52.75 per share, with a total value of $211,000.00. Following the completion of the purchase, the vice president now owns 25,299 shares of the company's stock, valued at approximately $1,334,522.25. This represents a 18.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mplx Price Performance

MPLX stock traded up $0.27 during mid-day trading on Thursday, hitting $50.49. 1,755,270 shares of the stock were exchanged, compared to its average volume of 1,981,727. The business has a fifty day moving average price of $52.30 and a 200 day moving average price of $49.35. Mplx Lp has a 12 month low of $39.84 and a 12 month high of $54.87. 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 stock has a market capitalization of $51.63 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.69 and a beta of 1.11.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share. On average, sell-side analysts anticipate that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.58%. The ex-dividend date was Monday, February 3rd. Mplx's payout ratio is 90.74%.

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.