Ascent Wealth Partners LLC Has $287,000 Stock Position in Mplx Lp (NYSE:MPLX)

Ascent Wealth Partners LLC cut its position in Mplx Lp (NYSE:MPLX) by 14.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,005 shares of the pipeline company’s stock after selling 995 shares during the quarter. Ascent Wealth Partners LLC’s holdings in Mplx were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cedar Wealth Management LLC acquired a new position in Mplx in the 3rd quarter valued at $51,000. Geneos Wealth Management Inc. grew its stake in 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 buying an additional 409 shares during the last quarter. Crewe Advisors LLC acquired a new position in Mplx in the 4th quarter valued at $98,000. Allworth Financial LP grew its stake in Mplx by 25.1% in the 4th quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock valued at $134,000 after buying an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Mplx by 393.0% in the 3rd 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 last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays raised their target price on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Truist Financial raised 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. Royal Bank of Canada raised their price target on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Raymond James raised their price target on shares of Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mplx currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Price Performance

NYSE:MPLX opened at $53.40 on Friday. The company has a 50-day moving average of $50.54 and a 200-day moving average of $46.89. The company has a market capitalization of $54.40 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.69 and a beta of 1.42. Mplx Lp has a 52 week low of $38.44 and a 52 week high of $54.74. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $3.06 billion during 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 firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. As a group, equities research analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.16%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s payout ratio is 90.74%.

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.