Reaves W H & Co. Inc. Purchases New Holdings in Mplx Lp (NYSE:MPLX)

Reaves W H & Co. Inc. purchased a new stake in Mplx Lp (NYSE:MPLX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,000 shares of the pipeline company’s stock, valued at approximately $1,197,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. ING Groep NV boosted its holdings in Mplx by 69.8% in the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after purchasing an additional 2,725,000 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in Mplx by 0.8% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company’s stock worth $255,003,000 after buying an additional 45,271 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Mplx by 4.9% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,933,486 shares of the pipeline company’s stock worth $85,963,000 after buying an additional 90,793 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Mplx by 1.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,568,200 shares of the pipeline company’s stock worth $75,054,000 after buying an additional 17,900 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Mplx by 0.5% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,506,962 shares of the pipeline company’s stock worth $72,123,000 after buying an additional 8,166 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Analyst Ratings Changes

MPLX has been the topic of a number of research analyst reports. Raymond James increased 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. Truist Financial increased their target price on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company increased their target price on Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Barclays increased their target price on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, UBS Group increased their target price on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Stock Up 0.6 %

MPLX opened at $54.22 on Tuesday. Mplx Lp has a 12 month low of $39.01 and a 12 month high of $54.79. 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 stock has a market cap of $55.24 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.69 and a beta of 1.42. The stock’s 50 day moving average price is $51.27 and its 200 day moving average price is $47.44.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The firm 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 earned $1.10 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.06%. The ex-dividend date was Monday, February 3rd. Mplx’s dividend payout ratio is currently 90.74%.

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.