Mplx Lp (NYSE:MPLX) Shares Purchased by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp raised its stake in Mplx Lp (NYSE:MPLXFree Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,891 shares of the pipeline company’s stock after buying an additional 504 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Mplx were worth $326,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Walled Lake Planning & Wealth Management LLC lifted its holdings in shares of Mplx by 36.9% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 10,465 shares of the pipeline company’s stock worth $384,000 after acquiring an additional 2,820 shares during the last quarter. Pingora Partners LLC acquired a new position in Mplx during the fourth quarter worth $1,253,000. Legacy Advisors LLC grew its stake in shares of Mplx by 18.6% in the fourth quarter. Legacy Advisors LLC now owns 7,205 shares of the pipeline company’s stock valued at $265,000 after buying an additional 1,130 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Mplx by 170.6% in the fourth quarter. Allianz Asset Management GmbH now owns 637,100 shares of the pipeline company’s stock valued at $23,394,000 after buying an additional 401,700 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Mplx by 0.3% during the 4th quarter. Stifel Financial Corp now owns 1,183,375 shares of the pipeline company’s stock worth $43,453,000 after acquiring an additional 3,295 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 0.1 %

NYSE:MPLX opened at $40.75 on Friday. Mplx Lp has a 1 year low of $33.12 and a 1 year high of $42.90. The stock has a market cap of $41.41 billion, a P/E ratio of 10.50, a P/E/G ratio of 2.04 and a beta of 1.35. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.67 and a current ratio of 0.72. The stock has a 50-day simple moving average of $41.05 and a 200-day simple moving average of $39.00.

Mplx (NYSE:MPLXGet Free Report) last posted its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. Mplx’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, analysts anticipate that Mplx Lp will post 4.01 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 8.34%. The ex-dividend date was Thursday, May 2nd. Mplx’s dividend payout ratio (DPR) is 87.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group lifted their target price on Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Truist Financial upped their target price on shares of Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Stifel Nicolaus raised their price target on shares of Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price objective on Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Barclays lifted their target price on Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, April 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.11.

Get Our Latest Report on MPLX

Mplx Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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