MADDEN SECURITIES Corp Takes Position in Mplx Lp (NYSE:MPLX)

MADDEN SECURITIES Corp acquired a new position in shares of Mplx Lp (NYSE:MPLX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,017 shares of the pipeline company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors increased its position 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 worth $2,689,000 after purchasing 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 worth $876,000 after buying an additional 268 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its position 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 valued at $632,000 after buying an additional 279 shares in the last quarter. FORA Capital LLC raised its stake in Mplx by 2.2% in the third quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock valued at $681,000 after buying an additional 332 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its holdings in Mplx by 3.9% in the third quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock worth $396,000 after acquiring an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Insider Activity at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

MPLX has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Bank of America assumed coverage on shares of Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target on the stock. Truist Financial lifted their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company upped their target price on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada lifted their price target on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and an average target price of $52.11.

Mplx Price Performance

NYSE:MPLX opened at $53.67 on Tuesday. The firm’s fifty day moving average is $49.65 and its two-hundred day moving average is $46.13. The firm has a market cap of $54.67 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.38 and a beta of 1.42. 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 one year low of $37.78 and a one year high of $54.18.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Research analysts expect that Mplx Lp will post 4.39 EPS for the current year.

Mplx Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend is Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is 90.97%.

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.