SouthState Corp Invests $51,000 in Mplx Lp (NYSE:MPLX)

SouthState Corp bought a new position in Mplx Lp (NYSE:MPLX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,400 shares of the pipeline company’s stock, valued at approximately $51,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC purchased a new stake in Mplx during the third quarter valued at about $33,000. PSI Advisors LLC raised its stake in Mplx by 63.6% during the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. HBC Financial Services PLLC purchased a new stake in shares of Mplx in the fourth quarter valued at $36,000. Fortitude Family Office LLC acquired a new stake in shares of Mplx in the fourth quarter worth $41,000. Finally, Rational Advisors LLC purchased a new position in Mplx during the 3rd quarter valued at about $43,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group upped their target price on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada lifted their price target on Mplx from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $45.11.

Mplx Stock Performance

MPLX stock traded up $0.02 during trading on Friday, reaching $41.12. 1,258,763 shares of the stock were exchanged, compared to its average volume of 2,418,397. The stock has a 50 day simple moving average of $40.77 and a 200-day simple moving average of $38.15. The company has a current ratio of 0.72, a quick ratio of 1.01 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $41.56 billion, a P/E ratio of 10.60 and a beta of 1.35. Mplx Lp has a twelve month low of $33.12 and a twelve month high of $42.90.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a net margin of 34.96% and a return on equity of 31.70%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Mplx Lp will post 4.06 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, May 2nd. This represents a $3.40 annualized dividend and a dividend yield of 8.27%. Mplx’s dividend payout ratio (DPR) is currently 87.63%.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.