Steward Partners Investment Advisory LLC Buys 7,196 Shares of Mplx Lp (NYSE:MPLX)

Steward Partners Investment Advisory LLC increased its stake in shares of Mplx Lp (NYSE:MPLX) by 15.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 53,827 shares of the pipeline company’s stock after acquiring an additional 7,196 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Mplx were worth $2,576,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its position in shares of Mplx by 56.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after acquiring an additional 409 shares during the period. Cedar Wealth Management LLC bought a new stake in shares of Mplx in the 3rd quarter valued at about $51,000. Crewe Advisors LLC acquired a new stake in Mplx in the 4th quarter valued at about $98,000. Allworth Financial LP increased its position in 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 buying an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC increased 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 worth $153,000 after buying an additional 2,751 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Performance

Shares of NYSE:MPLX opened at $52.65 on Friday. Mplx Lp has a 12-month low of $39.56 and a 12-month high of $54.79. The company’s 50 day moving average price is $51.66 and its two-hundred day moving average price is $47.66. The firm has a market cap of $53.64 billion, a PE ratio of 12.51, a PEG ratio of 1.69 and a beta of 1.40. 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 issued its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior 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 business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s payout ratio is currently 90.74%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MPLX shares. Truist Financial lifted their target price on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Barclays lifted their price objective on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Royal Bank of Canada lifted their target price on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, Raymond James increased their price target on shares of Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

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.