SageGuard Financial Group LLC bought a new position in Mplx Lp (NYSE:MPLX – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,679 shares of the pipeline company’s stock, valued at approximately $890,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Solstein Capital LLC bought a new stake in shares of Mplx in the 3rd quarter worth about $25,000. Wiser Advisor Group LLC acquired a new position in shares of Mplx in the 3rd quarter worth approximately $38,000. Root Financial Partners LLC acquired a new position in shares of Mplx in the 3rd quarter worth approximately $39,000. Quent Capital LLC acquired a new position in shares of Mplx in the 3rd quarter worth approximately $42,000. Finally, Groesbeck Investment Management Corp NJ acquired a new position in shares of Mplx in the 4th quarter worth approximately $49,000. Institutional investors own 24.25% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. The Goldman Sachs Group lifted their target price on Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group raised their price target on shares of Mplx from $64.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Truist Financial reduced their price target on shares of Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Stifel Nicolaus raised their price target on shares of Mplx from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.
Mplx Stock Down 0.4%
Shares of Mplx stock opened at $55.64 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. The business’s 50 day simple moving average is $57.35 and its 200-day simple moving average is $54.58. The stock has a market capitalization of $56.48 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 5.17 and a beta of 0.56. Mplx Lp has a twelve month low of $47.80 and a twelve month high of $59.98.
Mplx (NYSE:MPLX – Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. Equities research analysts forecast that Mplx Lp will post 4.38 earnings per share for the current year.
Mplx Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were given a dividend of $1.0765 per share. The ex-dividend date was Monday, February 9th. This represents a $4.31 annualized dividend and a dividend yield of 7.7%. Mplx’s dividend payout ratio is currently 89.42%.
About Mplx
MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.
The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.
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