Mplx Lp (NYSE:MPLX) Shares Acquired by PFG Investments LLC

PFG Investments LLC grew its position in shares of Mplx Lp (NYSE:MPLX) by 38.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,506 shares of the pipeline company’s stock after purchasing an additional 10,705 shares during the quarter. PFG Investments LLC’s holdings in Mplx were worth $1,843,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MPLX. ING Groep NV raised its position in shares of Mplx by 69.8% in the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after acquiring an additional 2,725,000 shares during the period. FMR LLC raised its holdings in Mplx by 387.4% in the 3rd quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock worth $36,611,000 after purchasing an additional 654,500 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Mplx by 17.0% in 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 purchasing an additional 217,674 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Mplx during the third quarter worth approximately $8,644,000. Finally, Walnut Private Equity Partners LLC increased its position in shares of Mplx by 479.6% in the fourth quarter. Walnut Private Equity Partners LLC now owns 153,600 shares of the pipeline company’s stock valued at $7,351,000 after buying an additional 127,100 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MPLX. Royal Bank of Canada upped their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday. Truist Financial upped their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Bank of America began coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. Finally, Barclays raised their target price on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Insider Buying and Selling at Mplx

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

Mplx Price Performance

MPLX stock opened at $50.80 on Tuesday. Mplx Lp has a 1 year low of $37.04 and a 1 year high of $53.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a market capitalization of $51.76 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.34 and a beta of 1.43. The business has a 50 day simple moving average of $49.02 and a 200-day simple moving average of $45.45.

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

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.53%. The ex-dividend date is Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is presently 90.09%.

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.