Cullen Frost Bankers Inc. Has $764,000 Stake in Mplx Lp (NYSE:MPLX)

Cullen Frost Bankers Inc. lifted its position in shares of Mplx Lp (NYSE:MPLX) by 4,672.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,810 shares of the pipeline company’s stock after acquiring an additional 20,374 shares during the period. Cullen Frost Bankers Inc.’s holdings in Mplx were worth $764,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC acquired a new stake in shares of Mplx during the third quarter valued at about $33,000. PSI Advisors LLC raised its stake 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 acquiring an additional 350 shares during the last quarter. HBC Financial Services PLLC bought a new stake in shares of Mplx in the fourth quarter worth $36,000. Fortitude Family Office LLC acquired a new stake in Mplx in the fourth quarter valued at $41,000. Finally, Rational Advisors LLC acquired a new position in Mplx during the 3rd quarter worth about $43,000. 24.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on shares of Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Truist Financial raised their price target on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research report 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 stock. According to data from MarketBeat.com, Mplx presently has a consensus rating of “Moderate Buy” and an average price target of $45.11.

Mplx Stock Up 0.5 %

MPLX opened at $41.84 on Friday. 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 Lp has a 12 month low of $33.12 and a 12 month high of $42.90. The business’s 50-day moving average price is $41.01 and its 200-day moving average price is $38.33. The company has a market cap of $42.29 billion, a P/E ratio of 10.73 and a beta of 1.35.

Mplx (NYSE:MPLX) last posted 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 during the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, equities analysts expect that Mplx Lp will post 4.06 EPS for the current year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.40 annualized dividend and a yield of 8.13%. Mplx’s dividend payout ratio (DPR) is presently 87.63%.

About Mplx

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.