Daymark Wealth Partners LLC Raises Position in Mplx Lp (NYSE:MPLX)

Daymark Wealth Partners LLC lifted its stake in shares of Mplx Lp (NYSE:MPLX) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,694 shares of the pipeline company’s stock after acquiring an additional 2,786 shares during the period. Daymark Wealth Partners LLC’s holdings in Mplx were worth $1,804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPLX. Captrust Financial Advisors grew its stake in shares of Mplx by 0.4% during the third quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock valued at $2,689,000 after acquiring an additional 231 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in Mplx by 1.4% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock valued at $876,000 after purchasing an additional 268 shares in the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings in Mplx by 2.0% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock worth $632,000 after purchasing an additional 279 shares during the last quarter. FORA Capital LLC raised its position in shares of Mplx by 2.2% in the 3rd quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock valued at $681,000 after purchasing an additional 332 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Mplx by 3.9% during the 3rd quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock valued at $396,000 after buying an additional 338 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Bank of America began coverage on shares of Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price for the company. UBS Group increased their price target 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. Truist Financial boosted their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada lifted their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.89.

Insider Activity at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Mplx Stock Performance

Shares of MPLX opened at $51.92 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a 1 year low of $37.04 and a 1 year high of $53.15. The firm has a fifty day moving average of $48.69 and a 200-day moving average of $45.24. The company has a market cap of $52.90 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.37 and a beta of 1.43.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.37%. Mplx’s dividend payout ratio (DPR) is 90.33%.

About Mplx

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.