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

Oppenheimer & Co. Inc. lifted its holdings in shares of Mplx Lp (NYSE:MPLXFree Report) by 35.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,417 shares of the pipeline company’s stock after buying an additional 9,717 shares during the period. Oppenheimer & Co. Inc.’s holdings in Mplx were worth $1,374,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MPLX. PSI Advisors LLC boosted its position in shares of Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. HBC Financial Services PLLC purchased a new stake in shares of Mplx during the fourth quarter valued at $36,000. Fortitude Family Office LLC purchased a new stake in shares of Mplx during the fourth quarter valued at $41,000. Rational Advisors LLC bought a new position in Mplx in the third quarter valued at about $43,000. Finally, SouthState Corp bought a new position in Mplx in the fourth quarter valued at about $51,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MPLX shares. Truist Financial increased their target price on Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 5th. Stifel Nicolaus increased their target price on Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays raised their price objective on Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.11.

Read Our Latest Report on Mplx

Mplx Stock Up 0.5 %

Shares of MPLX opened at $41.24 on Tuesday. The business’s 50 day moving average is $41.04 and its 200 day moving average is $39.12. The company has a market capitalization of $41.91 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 2.05 and a beta of 1.36. Mplx Lp has a 12-month low of $33.12 and a 12-month high of $42.90. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44.

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

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 8.24%. The ex-dividend date was Thursday, May 2nd. Mplx’s dividend payout ratio (DPR) is presently 87.63%.

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.

See Also

Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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