Oppenheimer & Co. Inc. Raises Stock Holdings in Mplx Lp (NYSE:MPLX)

Oppenheimer & Co. Inc. raised its position in shares of Mplx Lp (NYSE:MPLX) by 368.0% during the 4th quarter, Holdings Channel reports. The fund owned 188,057 shares of the pipeline company’s stock after purchasing an additional 147,872 shares during the period. Oppenheimer & Co. Inc.’s holdings in Mplx were worth $9,000,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings 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 buying an additional 4,842 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Mplx by 4.3% during 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 buying an additional 3,505 shares during the period. Fidelis Capital Partners LLC raised its holdings in Mplx by 3.9% during the 3rd quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock valued at $396,000 after buying an additional 338 shares during the period. Pathway Financial Advisers LLC raised its holdings 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 buying an additional 3,294 shares during the period. Finally, Gladstone Institutional Advisory LLC purchased a new stake in Mplx during the 3rd quarter valued at $210,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MPLX shares. UBS Group increased their price target on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. Truist Financial increased their price target on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada upped their price objective on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Raymond James upped their price objective on Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 22nd. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Price Performance

MPLX opened at $52.32 on Friday. Mplx Lp has a 12-month low of $38.44 and a 12-month high of $54.74. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The business’s fifty day simple moving average is $51.01 and its 200-day simple moving average is $47.17. The company has a market capitalization of $53.30 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.69 and a beta of 1.42.

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, topping analysts’ consensus estimates 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 the consensus estimate of $3.07 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s payout ratio is currently 90.74%.

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.