Colonial River Investments LLC Grows Stock Holdings in Mplx Lp (NYSE:MPLX)

Colonial River Investments LLC boosted its holdings in shares of Mplx Lp (NYSE:MPLX) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,403 shares of the pipeline company’s stock after purchasing an additional 1,066 shares during the quarter. Colonial River Investments LLC’s holdings in Mplx were worth $546,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MPLX. Cedar Wealth Management LLC purchased a new stake in Mplx during the third quarter valued at $51,000. Geneos Wealth Management Inc. raised its stake in shares of 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 acquiring an additional 409 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Mplx in the fourth quarter valued at $98,000. Allworth Financial LP raised its stake in shares of 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 acquiring an additional 517 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of 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 acquiring an additional 2,751 shares during the period. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Stock Down 0.8 %

Shares of Mplx stock opened at $53.40 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 1 year low of $38.44 and a 1 year high of $54.74. The firm’s 50-day moving average is $50.54 and its two-hundred day moving average is $46.93. The stock has a market cap of $54.40 billion, a price-to-earnings ratio of 12.68, a PEG 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 (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the business earned $1.10 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.16%. The ex-dividend date was Monday, February 3rd. Mplx’s payout ratio is 90.74%.

Wall Street Analysts Forecast Growth

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

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.