Larson Financial Group LLC Grows Stock Holdings in Mplx Lp (NYSE:MPLX)

Larson Financial Group LLC raised its stake in Mplx Lp (NYSE:MPLX - Free Report) by 9,134.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,635 shares of the pipeline company's stock after purchasing an additional 11,509 shares during the quarter. Larson Financial Group LLC's holdings in Mplx were worth $557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MPLX. ING Groep NV increased its position in Mplx by 69.8% in the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company's stock worth $294,699,000 after buying an additional 2,725,000 shares during the period. Strategic Financial Concepts LLC increased its position in Mplx by 5,070.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company's stock worth $46,797,000 after purchasing an additional 958,881 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Mplx in the fourth quarter worth about $41,917,000. FMR LLC lifted its position in shares of Mplx by 387.4% during the 3rd quarter. FMR LLC now owns 823,467 shares of the pipeline company's stock worth $36,611,000 after purchasing an additional 654,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Mplx by 368.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 188,057 shares of the pipeline company's stock worth $9,000,000 after purchasing an additional 147,872 shares in the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have weighed in on MPLX. Morgan Stanley increased their target price on shares of Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday. UBS Group raised 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. Raymond James upped their price objective on shares of Mplx from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Truist Financial boosted their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada raised their target price 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.10.

Mplx Stock Down 1.4 %

Shares of NYSE MPLX traded down $0.74 during trading on Thursday, hitting $52.37. 1,421,899 shares of the company traded hands, compared to its average volume of 1,849,551. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The business's fifty day moving average is $51.95 and its 200 day moving average is $47.91. Mplx Lp has a fifty-two week low of $39.56 and a fifty-two week high of $54.79. The firm has a market capitalization of $53.54 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.69 and a beta of 1.40.

Mplx (NYSE:MPLX - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $3.07 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The business's quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.31%. The ex-dividend date was Monday, February 3rd. Mplx's dividend payout ratio is currently 90.74%.

Insiders Place Their Bets

In other Mplx news, VP Shawn M. Lyon purchased 4,000 shares of Mplx stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $52.75 per share, with a total value of $211,000.00. Following the completion of the transaction, the vice president now owns 25,299 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link.

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.