Reaves W H & Co. Inc. Purchases New Holdings in Mplx Lp (NYSE:MPLX)

Reaves W H & Co. Inc. acquired a new stake in Mplx Lp (NYSE:MPLX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,000 shares of the pipeline company's stock, valued at approximately $1,197,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPLX. Cedar Wealth Management LLC acquired a new stake in Mplx during the third quarter worth approximately $51,000. Geneos Wealth Management Inc. increased 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 worth $54,000 after purchasing an additional 409 shares during the period. Crewe Advisors LLC bought a new position in shares of Mplx in the fourth quarter worth $98,000. Allworth Financial LP raised its stake in 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 in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company's stock worth $153,000 after purchasing an additional 2,751 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on MPLX. Barclays raised their target price on shares of Mplx from $49.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Truist Financial boosted their price objective on Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Raymond James increased their target price on Mplx from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Royal Bank of Canada boosted their price target on Mplx from $50.00 to $52.00 and gave the stock an "outperform" rating in a report on Monday, November 18th. Finally, StockNews.com lowered shares of Mplx from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.11.

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Mplx Price Performance

NYSE MPLX traded up $0.33 during trading hours on Friday, reaching $52.65. 2,388,023 shares of the stock traded hands, compared to its average volume of 1,869,169. The company has a market cap of $53.64 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.40. The stock has a 50 day simple moving average of $51.55 and a two-hundred day simple moving average of $47.59. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 1 year low of $39.56 and a 1 year high of $54.79.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) 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 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 quarter last year, the firm earned $1.10 EPS. On average, analysts predict that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors 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 7.27%. The ex-dividend date was Monday, February 3rd. Mplx's dividend payout ratio (DPR) is currently 90.74%.

Mplx Company 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.