4,179 Shares in Mplx Lp (NYSE:MPLX) Acquired by Archford Capital Strategies LLC

Archford Capital Strategies LLC acquired a new position in Mplx Lp (NYSE:MPLX) in the 4th quarter, Holdings Channel reports. The firm acquired 4,179 shares of the pipeline company’s stock, valued at approximately $200,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Cedar Wealth Management LLC acquired a new position in Mplx during the third quarter worth $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 in the last quarter. 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 in the last quarter. Zhang Financial LLC acquired a new stake in shares of Mplx in the third quarter valued at $202,000. Finally, Alpha Cubed Investments LLC acquired a new stake in shares of Mplx in the third quarter valued at $204,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the sale, the vice president now directly owns 14,750 shares of the company’s stock, valued at approximately $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mplx Trading Up 0.0 %

Shares of MPLX opened at $51.90 on Monday. Mplx Lp has a fifty-two week low of $37.04 and a fifty-two week high of $53.15. The stock has a fifty day moving average of $49.02 and a two-hundred day moving average of $45.43. The company has a market capitalization of $52.87 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 2.34 and a beta of 1.43. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Mplx Lp will post 4.18 EPS for the current year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.9565 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.83 annualized dividend and a dividend yield of 7.37%. Mplx’s dividend payout ratio is presently 90.33%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada raised their price target on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Barclays raised their price target on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company raised their price target on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Truist Financial raised their price target on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Mplx currently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

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.