Hardy Reed LLC Has $731,000 Stock Position in Mplx Lp (NYSE:MPLX)

Hardy Reed LLC increased its position in Mplx Lp (NYSE:MPLX) by 24.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 15,270 shares of the pipeline company’s stock after acquiring an additional 3,000 shares during the period. Hardy Reed LLC’s holdings in Mplx were worth $731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC acquired a new stake in Mplx in the third quarter worth about $51,000. Geneos Wealth Management Inc. grew its position in shares of Mplx by 56.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after buying an additional 409 shares during the period. Crewe Advisors LLC acquired a new position in shares of Mplx during the 4th quarter worth about $98,000. Allworth Financial LP grew its position in shares of Mplx by 25.1% during the 4th quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock worth $134,000 after buying an additional 517 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Mplx by 393.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after buying an additional 2,751 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MPLX. Barclays boosted their target price on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Raymond James boosted their target price on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. 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. Wells Fargo & Company boosted their price objective on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Truist Financial boosted their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.11.

Mplx Trading Down 1.6 %

NYSE MPLX opened at $53.76 on Thursday. The stock has a market capitalization of $54.77 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 2.39 and a beta of 1.42. The stock’s 50 day moving average price is $50.24 and its two-hundred day moving average price is $46.67. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a 52 week low of $38.44 and a 52 week high of $54.74.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 EPS. As a group, analysts anticipate that Mplx Lp will post 4.39 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.12%. The ex-dividend date was Monday, February 3rd. Mplx’s payout ratio is 90.97%.

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.