Dividend Assets Capital LLC Increases Stake in Mplx Lp (NYSE:MPLX)

Dividend Assets Capital LLC grew its holdings in shares of Mplx Lp (NYSE:MPLX) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,434 shares of the pipeline company’s stock after purchasing an additional 1,595 shares during the quarter. Dividend Assets Capital LLC’s holdings in Mplx were worth $3,419,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MPLX. Cedar Wealth Management LLC acquired a new stake in shares of Mplx in the third quarter valued at approximately $51,000. Geneos Wealth Management Inc. increased its stake in shares of Mplx by 56.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after acquiring an additional 409 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Mplx during the 4th quarter worth $98,000. Allworth Financial LP boosted 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 valued at $134,000 after acquiring an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Mplx by 393.0% in the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after purchasing an additional 2,751 shares during the period. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Raymond James boosted their target price 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 lifted their price target on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company increased their price objective on Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Barclays increased their price target on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Price Performance

MPLX stock opened at $53.40 on Friday. The business’s fifty day moving average price is $50.45 and its 200 day moving average price is $46.77. Mplx Lp has a 12-month low of $38.44 and a 12-month high of $54.74. 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 company has a market capitalization of $54.40 billion, a PE ratio of 12.68, a P/E/G ratio of 1.68 and a beta of 1.42.

Mplx (NYSE:MPLX) last issued 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. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.9565 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a yield of 7.16%. Mplx’s dividend payout ratio (DPR) is presently 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.