Pasadena Private Wealth LLC Sells 916 Shares of Mplx Lp (NYSE:MPLX)

Pasadena Private Wealth LLC reduced its position in shares of Mplx Lp (NYSE:MPLX) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,193 shares of the pipeline company’s stock after selling 916 shares during the quarter. Pasadena Private Wealth LLC’s holdings in Mplx were worth $871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MPLX. ING Groep NV boosted its position in Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after acquiring an additional 2,725,000 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in Mplx by 5,070.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company’s stock worth $46,797,000 after purchasing an additional 958,881 shares in the last quarter. FMR LLC lifted its position in shares of Mplx by 387.4% during the third quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock valued at $36,611,000 after buying an additional 654,500 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Mplx by 17.0% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock valued at $66,636,000 after buying an additional 217,674 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Mplx in the 3rd quarter worth approximately $8,644,000. Institutional investors own 24.25% of the company’s stock.

Analysts Set New Price Targets

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

Mplx Price Performance

Shares of NYSE MPLX opened at $54.63 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $50.10 and its 200-day simple moving average is $46.59. Mplx Lp has a 12 month low of $38.44 and a 12 month high of $54.68. The stock has a market capitalization of $55.66 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.39 and a beta of 1.42.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the previous year, the company earned $1.10 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts expect that Mplx Lp will post 4.39 EPS for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.00%. The ex-dividend date was Monday, February 3rd. Mplx’s payout ratio is 90.97%.

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.