Private Advisor Group LLC Has $2.48 Million Position in Mplx Lp (NYSE:MPLX)

Private Advisor Group LLC lessened its position in Mplx Lp (NYSE:MPLX) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,755 shares of the pipeline company’s stock after selling 1,985 shares during the period. Private Advisor Group LLC’s holdings in Mplx were worth $2,477,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cedar Wealth Management LLC acquired a new stake in Mplx during the 3rd quarter valued at $51,000. Geneos Wealth Management Inc. boosted its holdings 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 Mplx in the 4th quarter valued at about $98,000. Allworth Financial LP raised its holdings in Mplx by 25.1% in 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 period. 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 acquiring an additional 2,751 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Price Performance

MPLX stock opened at $53.16 on Tuesday. The company’s 50-day moving average price is $50.65 and its two-hundred day moving average price is $47.01. The firm has a market cap of $54.16 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.69 and a beta of 1.42. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. Mplx Lp has a 12 month low of $38.44 and a 12 month high of $54.74.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period last year, the firm posted $1.10 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.20%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is presently 90.74%.

Analysts Set New Price Targets

MPLX has been the topic of several research reports. Wells Fargo & Company upped their target price on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Truist Financial upped their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Raymond James lifted their target price on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays boosted their target price on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Mplx presently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

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.