Pathway Financial Advisers LLC Boosts Stake in Mplx Lp (NYSE:MPLX)

Pathway Financial Advisers LLC increased its stake in Mplx Lp (NYSE:MPLX) by 4.1% in the 4th quarter, Holdings Channel reports. The fund owned 27,110 shares of the pipeline company’s stock after buying an additional 1,058 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Mplx were worth $1,297,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MPLX. Cedar Wealth Management LLC bought a new stake in Mplx in the 3rd quarter worth approximately $51,000. Geneos Wealth Management Inc. boosted its stake 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 purchasing an additional 409 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Mplx during the 4th quarter valued at $98,000. Farther Finance Advisors LLC raised its position in Mplx by 393.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after purchasing an additional 2,751 shares during the period. Finally, Archford Capital Strategies LLC bought a new stake in Mplx in the fourth quarter worth $200,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MPLX has been the topic of a number of recent research reports. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 5th. Raymond James raised 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. Barclays boosted their price objective on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company raised their target price on shares of Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Truist Financial upped their price target on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $52.11.

Mplx Price Performance

Shares of Mplx stock opened at $52.66 on Thursday. The company has a market cap of $53.65 billion, a PE ratio of 12.51, a P/E/G ratio of 2.38 and a beta of 1.42. The business has a 50 day moving average of $49.81 and a 200 day moving average of $46.33. Mplx Lp has a 52 week low of $37.78 and a 52 week high of $54.18. 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 data on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. As a group, equities research analysts forecast that Mplx Lp will post 4.39 earnings per share for the current year.

Mplx Announces Dividend

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

Insiders Place Their Bets

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the 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 completion of the transaction, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. This represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.