Crewe Advisors LLC Invests $98,000 in Mplx Lp (NYSE:MPLX)

Crewe Advisors LLC purchased a new stake in Mplx Lp (NYSE:MPLX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,052 shares of the pipeline company’s stock, valued at approximately $98,000.

A number of other hedge funds have also bought and sold shares of MPLX. ING Groep NV increased its holdings in shares of Mplx by 69.8% during the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after purchasing an additional 2,725,000 shares during the period. FMR LLC increased its holdings in shares of Mplx by 387.4% during the third quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock worth $36,611,000 after purchasing an additional 654,500 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Mplx by 17.0% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock worth $66,636,000 after purchasing an additional 217,674 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Mplx during the third quarter worth approximately $8,644,000. Finally, Walnut Private Equity Partners LLC increased 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 purchasing an additional 127,100 shares during the period. 24.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MPLX shares. UBS Group raised their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America started coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. Truist Financial lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Stock Performance

NYSE MPLX opened at $53.53 on Friday. The firm’s fifty day moving average price is $49.56 and its two-hundred day moving average price is $45.97. The stock has a market cap of $54.54 billion, a PE ratio of 12.63, a PEG ratio of 2.33 and a beta of 1.42. Mplx Lp has a fifty-two week low of $37.47 and a fifty-two week high of $54.18. 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 posted its 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. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, equities analysts expect that Mplx Lp will post 4.18 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.9565 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.15%. Mplx’s dividend payout ratio (DPR) is presently 90.33%.

Insider Transactions at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx 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 transaction, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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.