Navellier & Associates Inc. Purchases Shares of 4,510 Mplx Lp (NYSE:MPLX)

Navellier & Associates Inc. purchased a new stake in Mplx Lp (NYSE:MPLX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,510 shares of the pipeline company’s stock, valued at approximately $216,000.

Several other institutional investors have also recently added to or reduced their stakes in MPLX. Cedar Wealth Management LLC acquired a new position in shares of Mplx during the third quarter worth approximately $51,000. Geneos Wealth Management Inc. raised its position in shares of Mplx by 56.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after purchasing an additional 409 shares during the period. Crewe Advisors LLC acquired a new position in shares of Mplx during the fourth quarter worth approximately $98,000. Allworth Financial LP raised its position in shares of Mplx by 25.1% during the fourth quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock worth $134,000 after purchasing an additional 517 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after purchasing an additional 2,751 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Down 0.8 %

Shares of NYSE:MPLX opened at $53.40 on Monday. The company has a market capitalization of $54.40 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. 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 fifty day moving average price of $50.54 and a two-hundred day moving average price of $46.93. Mplx Lp has a 1 year low of $38.44 and a 1 year high of $54.74.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. Analysts forecast that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

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

Analysts Set New Price Targets

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