Jackson Hole Capital Partners LLC Cuts Stock Holdings in Mplx Lp (NYSE:MPLX)

Jackson Hole Capital Partners LLC decreased its position in shares of Mplx Lp (NYSE:MPLX) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,068 shares of the pipeline company’s stock after selling 976 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in Mplx were worth $3,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in MPLX. 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 worth $294,699,000 after purchasing an additional 2,725,000 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in Mplx by 5,070.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company’s stock worth $46,797,000 after purchasing an additional 958,881 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Mplx in the fourth quarter worth approximately $41,917,000. FMR LLC boosted its holdings in Mplx by 387.4% in the third quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock worth $36,611,000 after purchasing an additional 654,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Mplx by 368.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 188,057 shares of the pipeline company’s stock worth $9,000,000 after purchasing an additional 147,872 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Stock Up 0.6 %

Shares of MPLX stock opened at $52.65 on Friday. The company has a market capitalization of $53.64 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.69 and a beta of 1.40. Mplx Lp has a one year low of $39.56 and a one year high of $54.79. The company’s fifty day moving average price is $51.66 and its 200-day moving average price is $47.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. Sell-side analysts expect that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.9565 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a yield of 7.27%. Mplx’s dividend payout ratio is currently 90.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MPLX shares. Truist Financial raised their target price on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays raised their target price on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. UBS Group lifted their price target on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Raymond James lifted their price target on shares of Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada lifted their price target 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 and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.