Concurrent Investment Advisors LLC Buys 1,802 Shares of Mplx Lp (NYSE:MPLX)

Concurrent Investment Advisors LLC boosted its stake in shares of Mplx Lp (NYSE:MPLX) by 16.0% during the fourth quarter, Holdings Channel reports. The firm owned 13,084 shares of the pipeline company’s stock after purchasing an additional 1,802 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Mplx were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MPLX. Creative Planning lifted its position in Mplx by 45.4% during the third quarter. Creative Planning now owns 51,508 shares of the pipeline company’s stock valued at $2,290,000 after purchasing an additional 16,076 shares during the last quarter. Raymond James & Associates boosted its stake in Mplx by 8.0% in the 3rd quarter. Raymond James & Associates now owns 398,340 shares of the pipeline company’s stock worth $17,710,000 after purchasing an additional 29,388 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Mplx by 153.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,000 shares of the pipeline company’s stock valued at $356,000 after acquiring an additional 4,842 shares during the period. Pathway Financial Advisers LLC lifted its stake in Mplx by 14.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 26,052 shares of the pipeline company’s stock valued at $1,158,000 after acquiring an additional 3,294 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Mplx by 4.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 85,389 shares of the pipeline company’s stock valued at $3,796,000 after purchasing an additional 3,505 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MPLX has been the subject of a number of research reports. Barclays upped their target price on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company increased their price target on shares of Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Raymond James upped their target price on shares of Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.11.

Mplx Stock Down 0.8 %

NYSE MPLX opened at $53.40 on Monday. The stock has a market cap of $54.40 billion, a PE ratio of 12.68, a P/E/G ratio of 1.69 and a beta of 1.42. Mplx Lp has a fifty-two week low of $38.44 and a fifty-two week high of $54.74. The business has a 50 day moving average price of $50.54 and a two-hundred day moving average price of $46.93. 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 posted its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the company posted $1.10 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared 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 was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) 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.