18,086 Shares in Mplx Lp (NYSE:MPLX) Acquired by Fortis Group Advisors LLC

Fortis Group Advisors LLC bought a new stake in Mplx Lp (NYSE:MPLX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,086 shares of the pipeline company’s stock, valued at approximately $866,000.

Several other hedge funds also recently bought and sold shares of the stock. PFG Investments LLC boosted its stake in shares of Mplx by 38.5% during the fourth quarter. PFG Investments LLC now owns 38,506 shares of the pipeline company’s stock valued at $1,843,000 after acquiring an additional 10,705 shares during the last quarter. Walnut Private Equity Partners LLC grew its holdings in shares of Mplx by 479.6% during the fourth quarter. Walnut Private Equity Partners LLC now owns 153,600 shares of the pipeline company’s stock worth $7,351,000 after buying an additional 127,100 shares in the last quarter. MML Investors Services LLC raised its position in shares of Mplx by 387.5% in the third quarter. MML Investors Services LLC now owns 23,543 shares of the pipeline company’s stock valued at $1,047,000 after buying an additional 18,714 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Mplx by 7.2% during the third quarter. Glenmede Trust Co. NA now owns 149,509 shares of the pipeline company’s stock valued at $6,647,000 after buying an additional 10,000 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its position in Mplx by 7.4% during the third quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock worth $12,488,000 after acquiring an additional 19,320 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial boosted 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. Barclays increased their target price on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada lifted their price target on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Raymond James increased their price objective on shares of Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, UBS Group boosted their target price on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Price Performance

MPLX opened at $53.89 on Tuesday. Mplx Lp has a 52-week low of $38.22 and a 52-week high of $54.52. The company has a 50 day moving average of $49.99 and a two-hundred day moving average of $46.51. The company has a market cap of $54.91 billion, a P/E ratio of 12.80, a P/E/G ratio of 2.38 and a beta of 1.42. 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 announced its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the company earned $1.10 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Mplx Lp will post 4.39 earnings per share for the current year.

Mplx Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 7.10%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is presently 90.97%.

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.