Mplx Lp (NYSE:MPLX) Shares Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. grew its stake in Mplx Lp (NYSE:MPLX) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,155 shares of the pipeline company’s stock after buying an additional 5,900 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Mplx were worth $3,118,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MPLX. SG Americas Securities LLC acquired a new position in shares of Mplx in the 3rd quarter valued at about $422,000. Creative Planning raised its holdings in Mplx by 45.4% in the 3rd quarter. Creative Planning now owns 51,508 shares of the pipeline company’s stock worth $2,290,000 after purchasing an additional 16,076 shares during the period. Secure Asset Management LLC acquired a new position in Mplx in the 3rd quarter worth about $225,000. Claro Advisors LLC raised its holdings in Mplx by 52.2% in the 3rd quarter. Claro Advisors LLC now owns 7,994 shares of the pipeline company’s stock worth $355,000 after purchasing an additional 2,741 shares during the period. Finally, Capital Investment Advisors LLC acquired a new position in Mplx in the 3rd quarter worth about $256,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Price Performance

MPLX stock opened at $53.89 on Friday. 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 business has a 50 day simple moving average of $49.89 and a 200-day simple moving average of $46.38. The firm has a market capitalization of $54.91 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.38 and a beta of 1.42. Mplx Lp has a 1 year low of $38.22 and a 1 year high of $54.52.

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 analysts’ consensus estimates 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 return on equity of 31.94% and a net margin of 36.18%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 earnings per share. Equities research analysts anticipate that Mplx Lp will post 4.39 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $0.9565 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.83 annualized dividend and a yield of 7.10%. Mplx’s payout ratio is 90.97%.

Insider Buying and Selling

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction that occurred 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 directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several research firms have commented on MPLX. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their price objective on Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. UBS Group boosted their price objective on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada boosted their price objective on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Finally, Truist Financial boosted their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

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.