Oppenheimer & Co. Inc. Grows Position in Mplx Lp (NYSE:MPLX)

Oppenheimer & Co. Inc. lifted its holdings in shares of Mplx Lp (NYSE:MPLX) by 368.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,057 shares of the pipeline company’s stock after buying an additional 147,872 shares during the period. Oppenheimer & Co. Inc.’s holdings in Mplx were worth $9,000,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Cedar Wealth Management LLC purchased a new position in Mplx in the third quarter worth about $51,000. Geneos Wealth Management Inc. boosted 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 worth $54,000 after purchasing an additional 409 shares during the last quarter. Crewe Advisors LLC purchased a new position in Mplx in the fourth quarter worth about $98,000. Allworth Financial LP boosted 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 worth $134,000 after purchasing an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted 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 worth $153,000 after purchasing an additional 2,751 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPLX has been the topic of several research reports. Barclays raised their target price on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 22nd. Royal Bank of Canada raised 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. Truist Financial boosted 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, Raymond James boosted 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 research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.11.

Mplx Stock Down 1.0 %

NYSE MPLX opened at $52.32 on Friday. The stock’s 50 day moving average is $51.01 and its 200 day moving average is $47.17. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. Mplx Lp has a 12 month low of $38.44 and a 12 month high of $54.74. The stock has a market cap of $53.30 billion, a PE ratio of 12.43, a P/E/G ratio of 1.69 and a beta of 1.42.

Mplx (NYSE:MPLX) last posted its quarterly 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. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the previous year, the firm earned $1.10 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Research analysts predict that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $0.9565 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a yield of 7.31%. Mplx’s dividend payout ratio is presently 90.74%.

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.