TrueMark Investments LLC Invests $5.39 Million in Mplx Lp (NYSE:MPLX)

TrueMark Investments LLC bought a new stake in Mplx Lp (NYSE:MPLX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 112,695 shares of the pipeline company’s stock, valued at approximately $5,394,000. Mplx accounts for approximately 1.7% of TrueMark Investments LLC’s holdings, making the stock its 12th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC grew its position in Mplx by 5,070.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company’s stock valued at $46,797,000 after acquiring an additional 958,881 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Mplx in the 4th quarter worth about $41,917,000. FMR LLC increased its position in shares of Mplx by 387.4% during 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 in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Mplx by 368.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 188,057 shares of the pipeline company’s stock valued at $9,000,000 after purchasing an additional 147,872 shares during the last quarter. Finally, Walnut Private Equity Partners LLC boosted its position in 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 owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MPLX. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Wells Fargo & Company upped their target price 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 raised 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. Morgan Stanley upped their price objective on Mplx from $56.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Finally, Royal Bank of Canada boosted their target price on Mplx from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Insider Activity at Mplx

In other Mplx news, VP Shawn M. Lyon bought 4,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $52.75 per share, with a total value of $211,000.00. Following the purchase, the vice president now owns 25,299 shares in the company, valued at $1,334,522.25. This trade represents a 18.78 % increase 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 Trading Down 1.0 %

NYSE:MPLX opened at $53.34 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. Mplx Lp has a 1-year low of $39.56 and a 1-year high of $54.87. The firm has a market capitalization of $54.54 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.69 and a beta of 1.40. The business’s 50-day moving average price is $52.88 and its two-hundred day moving average price is $48.66.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, beating 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 net margin of 36.18% and a return on equity of 31.94%. Mplx’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. On average, equities analysts expect that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.17%. The ex-dividend date of this dividend 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.