Madison Park Capital Advisors LLC Takes $263,000 Position in Mplx Lp (NYSE:MPLX)

Madison Park Capital Advisors LLC acquired a new position in shares of Mplx Lp (NYSE:MPLX) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 5,500 shares of the pipeline company’s stock, valued at approximately $263,000.

A number of other hedge funds also recently made changes to their positions in the stock. Captrust Financial Advisors increased its holdings in Mplx by 0.4% in the third quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock worth $2,689,000 after purchasing an additional 231 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Mplx by 1.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock valued at $876,000 after acquiring an additional 268 shares in the last quarter. Cherry Creek Investment Advisors Inc. boosted its position in shares of Mplx by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock valued at $632,000 after buying an additional 279 shares during the last quarter. FORA Capital LLC boosted its position in shares of Mplx by 2.2% during the third quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock valued at $681,000 after buying an additional 332 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its position in shares of Mplx by 3.9% during the third quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock valued at $396,000 after buying an additional 338 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MPLX shares. Truist Financial lifted their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group lifted their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada lifted their target price on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Wells Fargo & Company lifted their target price on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Barclays boosted their price objective on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Mplx Stock Up 2.8 %

Shares of NYSE:MPLX opened at $52.57 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The company has a market capitalization of $53.55 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 2.32 and a beta of 1.43. Mplx Lp has a 1 year low of $37.04 and a 1 year high of $52.76. The business has a fifty day moving average price of $48.69 and a two-hundred day moving average price of $45.24.

Mplx (NYSE:MPLX) last posted its quarterly earnings results 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. Analysts forecast that Mplx Lp will post 4.17 earnings per share for the current year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.9565 per share. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.28%. Mplx’s dividend payout ratio is presently 90.33%.

Insider Transactions at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the sale, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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.