Mplx Lp (NYSE:MPLX) Shares Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. grew its position in shares of Mplx Lp (NYSE:MPLX) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,155 shares of the pipeline company’s stock after purchasing an additional 5,900 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Mplx were worth $3,118,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. PFG Investments LLC lifted its stake in Mplx by 38.5% during the fourth quarter. PFG Investments LLC now owns 38,506 shares of the pipeline company’s stock worth $1,843,000 after purchasing an additional 10,705 shares in the last quarter. Walnut Private Equity Partners LLC raised its stake in shares of Mplx by 479.6% in the fourth quarter. Walnut Private Equity Partners LLC now owns 153,600 shares of the pipeline company’s stock valued at $7,351,000 after acquiring an additional 127,100 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Mplx by 387.5% in the third quarter. MML Investors Services LLC now owns 23,543 shares of the pipeline company’s stock valued at $1,047,000 after acquiring an additional 18,714 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Mplx by 7.2% in the third quarter. Glenmede Trust Co. NA now owns 149,509 shares of the pipeline company’s stock valued at $6,647,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in shares of Mplx by 7.4% in the third quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock valued at $12,488,000 after acquiring an additional 19,320 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Performance

NYSE:MPLX opened at $53.89 on Friday. The firm has a market capitalization of $54.91 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.38 and a beta of 1.42. The business’s fifty day moving average price is $49.89 and its 200 day moving average price is $46.38. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 12 month low of $38.22 and a 12 month high of $54.52.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 earnings per share. On average, sell-side analysts anticipate that Mplx Lp will post 4.39 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.10%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s payout ratio is 90.97%.

Insiders Place Their Bets

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MPLX shares. Barclays increased their price objective on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. UBS Group increased their price objective on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company increased their price objective on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Raymond James increased their price objective on Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Truist Financial increased their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Company Profile

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.