Reaves W H & Co. Inc. Invests $1.20 Million in Mplx Lp (NYSE:MPLX)

Reaves W H & Co. Inc. purchased a new position in Mplx Lp (NYSE:MPLX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,000 shares of the pipeline company’s stock, valued at approximately $1,197,000.

Other institutional investors also recently made changes to their positions in the company. Cedar Wealth Management LLC acquired a new position in shares of Mplx in the third quarter worth $51,000. Geneos Wealth Management Inc. increased its stake in Mplx by 56.3% in the fourth 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 during the last quarter. Crewe Advisors LLC acquired a new position in Mplx in the fourth quarter valued at $98,000. Allworth Financial LP increased its stake in Mplx by 25.1% in the fourth quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock valued at $134,000 after purchasing an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Mplx by 393.0% in the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after purchasing an additional 2,751 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Performance

Shares of NYSE:MPLX opened at $54.22 on Tuesday. Mplx Lp has a 12 month low of $39.01 and a 12 month high of $54.79. The business has a 50-day moving average of $51.27 and a two-hundred day moving average of $47.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a market capitalization of $55.24 billion, a PE ratio of 12.88, a P/E/G ratio of 1.69 and a beta of 1.42.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping 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 company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.06%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s payout ratio is 90.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MPLX shares. Royal Bank of Canada upped their target price on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Truist Financial upped their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research note on Sunday. UBS Group upped their price target on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Raymond James upped their price target on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

About Mplx

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.