Keybank National Association OH Grows Holdings in Mplx Lp (NYSE:MPLX)

Keybank National Association OH boosted its position in shares of Mplx Lp (NYSE:MPLX) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,740 shares of the pipeline company’s stock after acquiring an additional 2,531 shares during the period. Keybank National Association OH’s holdings in Mplx were worth $2,189,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MPLX. Cedar Wealth Management LLC bought a new position in shares of Mplx in the third quarter worth about $51,000. Geneos Wealth Management Inc. boosted its stake in Mplx by 56.3% in the 4th 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 period. Crewe Advisors LLC bought a new position in Mplx in the 4th quarter worth approximately $98,000. Allworth Financial LP raised its position in shares of Mplx by 25.1% during the fourth quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock valued at $134,000 after buying an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of 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 buying an additional 2,751 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group raised their price objective on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Barclays boosted 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. Wells Fargo & Company raised their price target on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada upped their price objective on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.11.

Mplx Stock Performance

NYSE MPLX opened at $52.40 on Friday. The business’s 50 day moving average price is $51.55 and its 200-day moving average price is $47.59. Mplx Lp has a fifty-two week low of $39.56 and a fifty-two week high of $54.79. The company has a market cap of $53.38 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.69 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 (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. Sell-side analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.30%. The ex-dividend date was Monday, February 3rd. Mplx’s payout ratio is currently 90.74%.

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.