Novem Group Makes New $814,000 Investment in Mplx Lp (NYSE:MPLX)

Novem Group acquired a new stake in Mplx Lp (NYSE:MPLX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 17,000 shares of the pipeline company's stock, valued at approximately $814,000.

A number of other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mplx by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock worth $330,448,000 after buying an additional 266,998 shares during the period. BROOKFIELD Corp ON boosted its stake in shares of Mplx by 1.9% during the fourth quarter. BROOKFIELD Corp ON now owns 4,221,615 shares of the pipeline company's stock valued at $202,047,000 after purchasing an additional 79,799 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Mplx by 5.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,279,124 shares of the pipeline company's stock valued at $109,079,000 after purchasing an additional 108,228 shares in the last quarter. FMR LLC boosted its stake in shares of Mplx by 141.1% during the fourth quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock valued at $95,011,000 after purchasing an additional 1,161,714 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of Mplx by 2.0% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,971,331 shares of the pipeline company's stock worth $94,348,000 after acquiring an additional 37,845 shares during the period. Institutional investors and hedge funds own 24.25% of the company's stock.

Insiders Place Their Bets

In other Mplx news, VP Shawn M. Lyon bought 4,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $52.75 per share, with a total value of $211,000.00. Following the purchase, the vice president now directly owns 25,299 shares of the company's stock, valued at $1,334,522.25. This trade represents a 18.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Mplx Price Performance

Shares of NYSE:MPLX traded up $0.22 during mid-day trading on Friday, reaching $50.54. The stock had a trading volume of 1,033,226 shares, compared to its average volume of 1,713,499. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The company has a market cap of $51.59 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76. Mplx Lp has a 1 year low of $39.95 and a 1 year high of $54.87. The business's 50 day moving average price is $50.94 and its 200 day moving average price is $50.60.

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

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.57%. The ex-dividend date of this dividend was Friday, May 9th. Mplx's dividend payout ratio is currently 88.22%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MPLX shares. Royal Bank of Canada upped their price target on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Monday, March 17th. Morgan Stanley increased their price objective on Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. Raymond James upped their target price on Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their target price on Mplx from $54.00 to $59.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, Wall Street Zen lowered Mplx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.50.

Mplx Company Profile

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.