Mplx Lp (NYSE:MPLX) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its holdings in Mplx Lp (NYSE:MPLX) by 55.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,376 shares of the pipeline company’s stock after acquiring an additional 1,925 shares during the quarter. Farther Finance Advisors LLC’s holdings in Mplx were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MPLX. Mutual of America Capital Management LLC increased its stake in shares of Mplx by 13.5% in the third quarter. Mutual of America Capital Management LLC now owns 48,333 shares of the pipeline company’s stock worth $2,149,000 after acquiring an additional 5,766 shares during the period. MAI Capital Management grew its position in Mplx by 3.1% during the third quarter. MAI Capital Management now owns 54,350 shares of the pipeline company’s stock valued at $2,416,000 after buying an additional 1,622 shares during the period. Caprock Group LLC grew its position in Mplx by 29.8% during the third quarter. Caprock Group LLC now owns 24,525 shares of the pipeline company’s stock valued at $1,090,000 after buying an additional 5,624 shares during the period. Cedar Wealth Management LLC acquired a new stake in Mplx during the third quarter valued at $51,000. Finally, Citigroup Inc. grew its position in Mplx by 3.0% during the third quarter. Citigroup Inc. now owns 1,144,404 shares of the pipeline company’s stock valued at $50,880,000 after buying an additional 33,772 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Performance

NYSE:MPLX opened at $54.46 on Wednesday. The company’s 50-day moving average price is $52.37 and its 200-day moving average price is $48.27. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The company has a market cap of $55.68 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.69 and a beta of 1.40. Mplx Lp has a twelve month low of $39.56 and a twelve month high of $54.87.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping 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 for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.10 earnings per share. On average, sell-side analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is presently 90.74%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms recently commented on MPLX. Wells Fargo & Company raised their price target on shares of Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Truist Financial raised their price target on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Barclays raised their price target on shares of Mplx from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Mplx from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Monday. One 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. According to data from MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

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.