Mplx (NYSE:MPLX) Reaches New 1-Year High – Here’s Why

Mplx Lp (NYSE:MPLX)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $53.55 and last traded at $52.49, with a volume of 5256527 shares trading hands. The stock had previously closed at $51.70.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Truist Financial increased their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Bank of America started coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. Wells Fargo & Company raised their target price on Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their price target on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Mplx Stock Up 1.5 %

The business’s 50 day simple moving average is $49.25 and its 200 day simple moving average is $45.63. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $53.47 billion, a PE ratio of 12.38, a PEG ratio of 2.34 and a beta of 1.43.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. Mplx’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 EPS. On average, equities research analysts forecast that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date of this dividend is Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is currently 90.33%.

Insider Activity

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the sale, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Mplx

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in Mplx by 56.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after acquiring an additional 409 shares during the period. Cedar Wealth Management LLC acquired a new position in Mplx during the third quarter valued at $51,000. Crewe Advisors LLC acquired a new position in Mplx during the fourth quarter valued at $98,000. Allworth Financial LP boosted its holdings in Mplx by 25.1% in the fourth quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock valued at $134,000 after purchasing an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Mplx by 393.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after purchasing an additional 2,751 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

About Mplx

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.