Parkside Financial Bank & Trust Trims Stake in Mplx Lp (NYSE:MPLX)

Parkside Financial Bank & Trust lowered its holdings in Mplx Lp (NYSE:MPLX) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,253 shares of the pipeline company’s stock after selling 389 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Mplx were worth $1,352,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on MPLX. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 22nd. UBS Group lifted their price objective on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Raymond James lifted their price objective on Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Truist Financial lifted their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company lifted their price objective on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Trading Down 1.0 %

MPLX opened at $52.32 on Friday. Mplx Lp has a 12 month low of $38.44 and a 12 month high of $54.74. The stock has a market capitalization of $53.30 billion, a price-to-earnings ratio of 12.43, a PEG 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 $51.01 and a 200 day moving average price of $47.17.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, topping 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 return on equity of 31.94% and a net margin of 36.18%. Mplx’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 EPS. Sell-side analysts expect 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. Shareholders of record on Monday, February 3rd were issued a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is 90.74%.

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.