Mattern Capital Management LLC Invests $206,000 in Mplx Lp (NYSE:MPLX)

Mattern Capital Management LLC acquired a new position in shares of Mplx Lp (NYSE:MPLX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,300 shares of the pipeline company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cedar Wealth Management LLC bought a new position in shares of Mplx during the 3rd quarter worth about $51,000. Geneos Wealth Management Inc. lifted its holdings in shares of Mplx by 56.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after acquiring an additional 409 shares during the period. Crewe Advisors LLC bought a new position in shares of Mplx during the 4th quarter worth about $98,000. Allworth Financial LP lifted its holdings in shares of Mplx by 25.1% during the 4th quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock worth $134,000 after acquiring an additional 517 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Mplx by 393.0% during the 3rd 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 in the last quarter. 24.25% of the stock is owned by institutional investors.

Mplx Trading Down 0.8 %

MPLX opened at $53.40 on Friday. 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 stock has a market capitalization of $54.40 billion, a PE ratio of 12.68, a PEG ratio of 1.68 and a beta of 1.42. Mplx Lp has a 1-year low of $38.44 and a 1-year high of $54.74. The firm has a 50-day moving average price of $50.45 and a two-hundred day moving average price of $46.77.

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

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s dividend payout ratio is 90.97%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MPLX shares. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Royal Bank of Canada increased their target price on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Barclays increased their target price on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. UBS Group increased their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Truist Financial increased their target price on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus price target 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.