Colonial River Investments LLC Grows Stock Holdings in Mplx Lp (NYSE:MPLX)

Colonial River Investments LLC raised its position in shares of Mplx Lp (NYSE:MPLX) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,403 shares of the pipeline company’s stock after buying an additional 1,066 shares during the quarter. Colonial River Investments LLC’s holdings in Mplx were worth $546,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Cedar Wealth Management LLC purchased a new position in shares of Mplx in the 3rd quarter valued at approximately $51,000. Geneos Wealth Management Inc. raised its position in shares of Mplx by 56.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 409 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Mplx in the 4th quarter valued at approximately $98,000. Allworth Financial LP raised its position in shares of Mplx by 25.1% in the 4th 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 raised its position in shares of Mplx by 393.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after purchasing an additional 2,751 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Price Performance

Mplx stock opened at $53.40 on Monday. The company’s fifty day moving average price is $50.54 and its 200 day moving average price is $46.93. Mplx Lp has a 1 year low of $38.44 and a 1 year high of $54.74. The stock has a market capitalization of $54.40 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.69 and a beta of 1.42. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last announced its earnings results 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. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the previous year, the company posted $1.10 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.9565 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.83 annualized dividend and a yield of 7.16%. Mplx’s dividend payout ratio (DPR) is presently 90.74%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Truist Financial increased their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company increased their price objective on shares of Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada raised their price target on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, Raymond James raised their price target on shares of Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.