Mplx Lp (NYSE:MPLX) Shares Bought by Objectivity Squared LLC

Objectivity Squared LLC lifted its stake in shares of Mplx Lp (NYSE:MPLX) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,125 shares of the pipeline company’s stock after acquiring an additional 2,246 shares during the period. Mplx accounts for approximately 3.0% of Objectivity Squared LLC’s portfolio, making the stock its 10th biggest holding. Objectivity Squared LLC’s holdings in Mplx were worth $4,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MPLX. Farther Finance Advisors LLC boosted its stake 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 purchasing an additional 2,751 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Mplx by 3.1% during the third quarter. Janney Montgomery Scott LLC now owns 44,894 shares of the pipeline company’s stock worth $1,996,000 after acquiring an additional 1,338 shares during the last quarter. Van ECK Associates Corp boosted its position in Mplx by 10.7% during the third quarter. Van ECK Associates Corp now owns 57,809 shares of the pipeline company’s stock worth $2,535,000 after acquiring an additional 5,569 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Mplx in the 3rd quarter worth approximately $922,000. Finally, Verdence Capital Advisors LLC acquired a new position in Mplx in the 3rd quarter valued at $229,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MPLX. Raymond James raised their price objective on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Truist Financial raised their price target on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Wells Fargo & Company raised their target price on shares of Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, UBS Group boosted their target price on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and an average target price of $52.11.

Mplx Stock Up 0.6 %

MPLX opened at $52.65 on Monday. Mplx Lp has a 1 year low of $39.56 and a 1 year high of $54.79. The firm has a 50 day moving average price of $51.66 and a 200 day moving average price of $47.74. 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 company has a market cap of $53.64 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.40.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) 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 company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. Mplx’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.27%. The ex-dividend date was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is presently 90.74%.

Mplx 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.