Venturi Wealth Management LLC Increases Holdings in Mplx Lp (NYSE:MPLX)

Venturi Wealth Management LLC increased its stake in shares of Mplx Lp (NYSE:MPLX) by 57.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,054 shares of the pipeline company’s stock after buying an additional 3,685 shares during the quarter. Venturi Wealth Management LLC’s holdings in Mplx were worth $481,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its stake in Mplx by 56.3% during the fourth 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 last quarter. Cedar Wealth Management LLC acquired a new stake in Mplx during the third quarter worth $51,000. Crewe Advisors LLC acquired a new stake in Mplx during the fourth quarter worth $98,000. Allworth Financial LP increased its stake in Mplx by 25.1% during the fourth 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 last quarter. Finally, Farther Finance Advisors LLC increased its stake in Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after acquiring an additional 2,751 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MPLX has been the subject of several recent analyst reports. Truist Financial raised their target price on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Barclays lifted their price objective on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. 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. Finally, 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. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.11.

Mplx Trading Down 1.6 %

MPLX opened at $53.76 on Thursday. 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 $54.77 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 2.39 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 $50.24 and a 200 day moving average price of $46.67.

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. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the previous year, the firm posted $1.10 EPS. Mplx’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that Mplx Lp will post 4.39 earnings per share for the current fiscal year.

Mplx Dividend Announcement

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 7.12%. The ex-dividend date was 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.