Stephens Inc. AR Buys 1,984 Shares of Mplx Lp (NYSE:MPLX)

Stephens Inc. AR grew its stake in Mplx Lp (NYSE:MPLX) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,483 shares of the pipeline company’s stock after acquiring an additional 1,984 shares during the quarter. Stephens Inc. AR’s holdings in Mplx were worth $1,555,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. ING Groep NV increased its holdings in Mplx by 69.8% during the 3rd 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 in the last quarter. Strategic Financial Concepts LLC raised its position in Mplx by 5,070.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company’s stock valued at $46,797,000 after buying an additional 958,881 shares during the last quarter. FMR LLC lifted its stake in Mplx by 387.4% in the 3rd quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock valued at $36,611,000 after acquiring an additional 654,500 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Mplx by 17.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock worth $66,636,000 after acquiring an additional 217,674 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Mplx during the 3rd quarter worth approximately $8,644,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MPLX. Royal Bank of Canada raised their target price on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Barclays boosted their price target on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. UBS Group raised their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Raymond James increased their price target on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Truist Financial boosted their target price 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. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Stock Performance

NYSE:MPLX opened at $52.66 on Thursday. The firm has a market capitalization of $53.65 billion, a P/E ratio of 12.51, a P/E/G ratio of 2.38 and a beta of 1.42. Mplx Lp has a twelve month low of $37.78 and a twelve month high of $54.18. The company has a fifty day moving average of $49.75 and a 200-day moving average of $46.29. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mplx Lp will post 4.39 EPS for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date of this dividend is Monday, February 3rd. Mplx’s payout ratio is 90.97%.

Mplx 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.