Mplx Lp (NYSE:MPLX) Stake Lessened by Independent Advisor Alliance

Independent Advisor Alliance trimmed its position in shares of Mplx Lp (NYSE:MPLX) by 5.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 65,952 shares of the pipeline company’s stock after selling 3,533 shares during the quarter. Independent Advisor Alliance’s holdings in Mplx were worth $3,156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cedar Wealth Management LLC purchased a new stake in shares of Mplx during the third quarter worth $51,000. Geneos Wealth Management Inc. raised its holdings in shares of Mplx by 56.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after acquiring an additional 409 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Mplx during the fourth quarter worth $98,000. Allworth Financial LP raised its holdings in shares of Mplx by 25.1% during the fourth quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock worth $134,000 after acquiring an additional 517 shares in the last quarter. Finally, Archford Capital Strategies LLC purchased a new stake in shares of Mplx during the fourth quarter worth $200,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Shawn M. Lyon bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $52.75 per share, with a total value of $211,000.00. Following the completion of the transaction, the vice president now directly owns 25,299 shares in the company, valued at $1,334,522.25. This represents a 18.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several analysts recently issued reports on MPLX shares. Wells Fargo & Company increased their price objective on Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Raymond James raised their target price on Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Truist Financial raised their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. UBS Group raised their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada raised their target price on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and an average target price of $53.10.

Mplx Trading Up 1.1 %

Shares of NYSE:MPLX opened at $53.08 on Thursday. The company has a market cap of $54.27 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.69 and a beta of 1.40. The stock’s 50-day moving average is $51.95 and its 200-day moving average is $47.91. Mplx Lp has a 52-week low of $39.56 and a 52-week high of $54.79. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $1.10 earnings per share. Equities research analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is presently 90.74%.

Mplx Company Profile

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.