Mplx Lp (NYSE:MPLX) Shares Bought by Stablepoint Partners LLC

Stablepoint Partners LLC lifted its stake in shares of Mplx Lp (NYSE:MPLX) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,203 shares of the pipeline company’s stock after purchasing an additional 800 shares during the period. Stablepoint Partners LLC’s holdings in Mplx were worth $345,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Geneos Wealth Management Inc. raised its stake in Mplx by 56.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 409 shares during the period. Cedar Wealth Management LLC purchased a new position in shares of Mplx during the third quarter valued at $51,000. Farther Finance Advisors LLC raised its position in Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after buying an additional 2,751 shares during the period. Archford Capital Strategies LLC purchased a new stake in Mplx in the 4th quarter worth about $200,000. Finally, Marcum Wealth LLC acquired a new stake in Mplx during the 4th quarter worth about $205,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

Several analysts recently commented on MPLX shares. Bank of America assumed coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. Truist Financial lifted their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group upped 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. Royal Bank of Canada lifted their price objective on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Mplx Stock Up 0.0 %

Shares of Mplx stock opened at $51.90 on Monday. Mplx Lp has a 12-month low of $37.04 and a 12-month high of $53.15. The stock has a market capitalization of $52.87 billion, a P/E ratio of 12.24, a PEG ratio of 2.34 and a beta of 1.43. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average price of $49.02 and a two-hundred day moving average price of $45.43.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the business earned $0.89 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date is Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is currently 90.33%.

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.