HBK Sorce Advisory LLC Buys Shares of 6,629 Mplx Lp (NYSE:MPLX)

HBK Sorce Advisory LLC purchased a new stake in Mplx Lp (NYSE:MPLX) during the first quarter, according to its most recent filing with the SEC. The firm purchased 6,629 shares of the pipeline company’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. PSI Advisors LLC increased its holdings in shares of Mplx by 63.6% in the 4th 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 period. Quent Capital LLC purchased a new position in Mplx during the 1st quarter worth $35,000. HBC Financial Services PLLC purchased a new position in Mplx during the 4th quarter worth $36,000. Fortitude Family Office LLC purchased a new position in Mplx during the 4th quarter worth $41,000. Finally, Pacifica Partners Inc. purchased a new position in Mplx during the 1st quarter worth $41,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Price Performance

NYSE MPLX traded up $0.29 during trading hours on Friday, reaching $43.11. The company’s stock had a trading volume of 968,280 shares, compared to its average volume of 2,009,397. The firm has a market capitalization of $43.81 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 2.14 and a beta of 1.37. Mplx Lp has a 1-year low of $34.32 and a 1-year high of $43.24. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.72 and a quick ratio of 0.67. The company’s 50-day moving average is $41.39 and its two-hundred day moving average is $40.20.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Mplx Lp will post 4.01 EPS for the current year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $3.40 annualized dividend and a yield of 7.89%. Mplx’s payout ratio is 87.63%.

Analysts Set New Price Targets

Several research analysts recently weighed in on MPLX shares. Truist Financial boosted their target price on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. lifted their price target on Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. UBS Group lifted their price target on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Barclays lifted their price target on Mplx from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

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.