FourThought Financial Partners LLC Acquires 3,867 Shares of Mplx Lp (NYSE:MPLX)

FourThought Financial Partners LLC grew its holdings in shares of Mplx Lp (NYSE:MPLX) by 12.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,003 shares of the pipeline company’s stock after buying an additional 3,867 shares during the period. FourThought Financial Partners LLC’s holdings in Mplx were worth $1,285,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of MPLX. Lee Financial Co lifted its stake in shares of Mplx by 5.1% in the third quarter. Lee Financial Co now owns 6,821 shares of the pipeline company’s stock valued at $243,000 after buying an additional 329 shares in the last quarter. PSI Advisors LLC increased its holdings in Mplx by 63.6% during the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Ausdal Financial Partners Inc. raised its stake in shares of Mplx by 4.2% in the fourth quarter. Ausdal Financial Partners Inc. now owns 10,064 shares of the pipeline company’s stock worth $370,000 after purchasing an additional 410 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Mplx by 2.2% in the third quarter. D.A. Davidson & CO. now owns 19,061 shares of the pipeline company’s stock valued at $678,000 after purchasing an additional 415 shares in the last quarter. Finally, First Heartland Consultants Inc. boosted its position in shares of Mplx by 5.2% during the third quarter. First Heartland Consultants Inc. now owns 9,337 shares of the pipeline company’s stock valued at $332,000 after buying an additional 463 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MPLX. Truist Financial raised their price objective on Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus lifted their target price on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James upped their target price on Mplx from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada lifted their price target on Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.11.

Mplx Stock Performance

Mplx stock traded up $0.02 during midday trading on Friday, reaching $41.12. The stock had a trading volume of 1,258,763 shares, compared to its average volume of 2,418,397. The company has a quick ratio of 1.01, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $41.56 billion, a PE ratio of 10.60 and a beta of 1.35. Mplx Lp has a 12 month low of $33.12 and a 12 month high of $42.90. The firm’s 50-day moving average price is $40.80 and its 200 day moving average price is $38.21.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a net margin of 34.96% and a return on equity of 31.70%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Mplx Lp will post 4.06 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 8.27%. The ex-dividend date of this dividend is Thursday, May 2nd. Mplx’s dividend payout ratio (DPR) is presently 87.63%.

Mplx Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.