Cary Street Partners Financial LLC Takes Position in Mplx Lp (NYSE:MPLX)

Cary Street Partners Financial LLC acquired a new stake in shares of Mplx Lp (NYSE:MPLX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,596 shares of the pipeline company's stock, valued at approximately $699,000.

Several other large investors have also recently modified their holdings of MPLX. CFO4Life Group LLC grew its position in Mplx by 1.1% during the 4th quarter. CFO4Life Group LLC now owns 19,200 shares of the pipeline company's stock worth $919,000 after acquiring an additional 200 shares during the last quarter. RE Dickinson Investment Advisors LLC grew its holdings in shares of Mplx by 11.5% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company's stock worth $96,000 after purchasing an additional 208 shares during the last quarter. GraniteShares Advisors LLC increased its stake in shares of Mplx by 0.5% in the fourth quarter. GraniteShares Advisors LLC now owns 51,441 shares of the pipeline company's stock worth $2,462,000 after buying an additional 237 shares during the period. Cherry Creek Investment Advisors Inc. raised its holdings in Mplx by 2.0% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 14,489 shares of the pipeline company's stock valued at $693,000 after buying an additional 285 shares during the last quarter. Finally, Curi RMB Capital LLC boosted its position in Mplx by 1.2% during the 4th quarter. Curi RMB Capital LLC now owns 25,385 shares of the pipeline company's stock valued at $1,215,000 after buying an additional 290 shares during the period. Hedge funds and other institutional investors own 24.25% of the company's stock.

Mplx Stock Down 1.4 %

Mplx stock traded down $0.72 on Friday, hitting $49.03. 1,254,238 shares of the stock traded hands, compared to its average volume of 1,764,542. The business's fifty day simple moving average is $51.40 and its 200 day simple moving average is $50.20. The firm has a market cap of $50.13 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. Mplx Lp has a 1 year low of $39.84 and a 1 year high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Mplx's quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 9th will be issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.80%. The ex-dividend date is Friday, May 9th. Mplx's dividend payout ratio (DPR) is 88.22%.

Insider Transactions at Mplx

In other news, VP Shawn M. Lyon purchased 4,000 shares of Mplx stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $52.75 per share, with a total value of $211,000.00. Following the completion of the transaction, the vice president now directly owns 25,299 shares of the company's stock, valued at approximately $1,334,522.25. The trade was a 18.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

MPLX has been the subject of several recent analyst reports. Wells Fargo & Company upped 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, February 6th. Barclays upped their price target on Mplx from $52.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Royal Bank of Canada lifted their price objective on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. Raymond James upped their target price on Mplx from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their price target on shares of Mplx from $56.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.88.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.