HighTower Advisors LLC grew its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 593,566 shares of the pipeline company's stock after buying an additional 32,976 shares during the period. HighTower Advisors LLC owned 0.06% of Mplx worth $28,408,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its position in shares of Mplx by 56.3% in 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 period. Cedar Wealth Management LLC purchased a new stake in shares of Mplx in the third quarter valued at $51,000. Crewe Advisors LLC purchased a new stake in shares of Mplx in the fourth quarter valued at $98,000. Allworth Financial LP grew its position in shares of Mplx by 25.1% in the fourth quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company's stock valued at $134,000 after purchasing an additional 517 shares during the period. Finally, Archford Capital Strategies LLC purchased a new stake in shares of Mplx in the fourth quarter valued at $200,000. Hedge funds and other institutional investors own 24.25% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Mplx from $52.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Royal Bank of Canada increased their target price on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Monday. Raymond James increased their target price on Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Truist Financial increased their target price on Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Finally, StockNews.com cut Mplx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Mplx presently has a consensus rating of "Moderate Buy" and an average price target of $54.00.
Read Our Latest Analysis on Mplx
Mplx Stock Performance
MPLX traded down $0.13 during trading hours on Wednesday, hitting $54.32. The company's stock had a trading volume of 1,653,049 shares, compared to its average volume of 1,738,611. Mplx Lp has a fifty-two week low of $39.56 and a fifty-two week high of $54.87. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $55.54 billion, a PE ratio of 12.90, a PEG ratio of 1.69 and a beta of 1.40. The company has a 50-day simple moving average of $52.37 and a 200 day simple moving average of $48.27.
Mplx (NYSE:MPLX - Get Free Report) last issued 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. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The company had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.07 billion. During the same period last year, the firm earned $1.10 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect 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 given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx's dividend payout ratio (DPR) is presently 90.74%.
Insider Activity
In other news, VP Shawn M. Lyon purchased 4,000 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $52.75 per share, for a total transaction of $211,000.00. Following the transaction, the vice president now owns 25,299 shares in the company, valued at $1,334,522.25. This trade represents a 18.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
About Mplx
(
Free Report)
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.
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