Fort Washington Investment Advisors Inc. OH Raises Position in Mplx Lp $MPLX

Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Mplx Lp (NYSE:MPLX) by 286.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,557 shares of the pipeline company’s stock after buying an additional 56,729 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Mplx were worth $4,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cobblestone Capital Advisors LLC NY lifted its stake in Mplx by 4.0% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 5,198 shares of the pipeline company’s stock valued at $260,000 after acquiring an additional 198 shares in the last quarter. Gladstone Institutional Advisory LLC grew its stake in shares of Mplx by 3.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 6,069 shares of the pipeline company’s stock worth $303,000 after acquiring an additional 206 shares in the last quarter. Holderness Investments Co. raised its holdings in shares of Mplx by 2.6% in the third quarter. Holderness Investments Co. now owns 8,945 shares of the pipeline company’s stock valued at $447,000 after purchasing an additional 225 shares during the last quarter. Visionary Wealth Advisors raised its holdings in shares of Mplx by 4.1% in the second quarter. Visionary Wealth Advisors now owns 5,866 shares of the pipeline company’s stock valued at $302,000 after purchasing an additional 232 shares during the last quarter. Finally, Argyle Capital Partners LLC lifted its position in shares of Mplx by 0.9% during the second quarter. Argyle Capital Partners LLC now owns 26,712 shares of the pipeline company’s stock valued at $1,376,000 after purchasing an additional 250 shares in the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on MPLX. Wall Street Zen raised shares of Mplx from a “hold” rating to a “buy” rating in a research report on Monday, March 23rd. UBS Group lifted their target price on shares of Mplx from $64.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Raymond James Financial downgraded Mplx from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Truist Financial assumed coverage on Mplx in a research report on Tuesday. They set a “buy” rating and a $67.00 price target for the company. Finally, Stifel Nicolaus upped their price objective on Mplx from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.56.

Mplx Trading Down 1.4%

Shares of MPLX stock opened at $58.14 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. The firm has a market cap of $59.02 billion, a P/E ratio of 12.06, a PEG ratio of 5.40 and a beta of 0.56. The company has a 50 day moving average of $57.28 and a 200-day moving average of $53.93. Mplx Lp has a 12-month low of $44.60 and a 12-month high of $59.98.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the company earned $1.07 earnings per share. Mplx’s revenue was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Monday, February 9th. Mplx’s dividend payout ratio (DPR) is currently 89.42%.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.