Gilman Hill Asset Management LLC Has $5.92 Million Stake in Mplx Lp (NYSE:MPLX)

Gilman Hill Asset Management LLC grew its stake in shares of Mplx Lp (NYSE:MPLX) by 325.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 123,663 shares of the pipeline company’s stock after purchasing an additional 94,628 shares during the period. Gilman Hill Asset Management LLC’s holdings in Mplx were worth $5,919,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Cedar Wealth Management LLC acquired a new stake in Mplx during the third quarter worth $51,000. Farther Finance Advisors LLC boosted 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 valued at $153,000 after acquiring an additional 2,751 shares in the last quarter. Zhang Financial LLC bought a new stake in Mplx in the third quarter valued at about $202,000. Alpha Cubed Investments LLC acquired a new position in Mplx in the third quarter worth about $204,000. Finally, Marcum Wealth LLC bought a new position in Mplx during the fourth quarter worth about $205,000. Institutional investors own 24.25% of the company’s stock.

Insiders Place Their Bets

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This trade represents a 21.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Mplx Trading Up 0.7 %

MPLX stock opened at $51.17 on Monday. 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 twelve month low of $36.79 and a twelve month high of $51.94. The company has a market cap of $52.13 billion, a P/E ratio of 12.07, a PEG ratio of 2.81 and a beta of 1.43. The business has a fifty day moving average of $48.46 and a 200-day moving average of $45.11.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. As a group, equities research analysts expect that Mplx Lp will post 4.17 EPS for the current year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.9565 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a yield of 7.48%. Mplx’s dividend payout ratio (DPR) is presently 90.09%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Bank of America began coverage on Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. Truist Financial boosted their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays increased their target price on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada upped their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

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.