Hardy Reed LLC Acquires 3,000 Shares of Mplx Lp (NYSE:MPLX)

Hardy Reed LLC grew its holdings in Mplx Lp (NYSE:MPLX) by 24.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,270 shares of the pipeline company’s stock after acquiring an additional 3,000 shares during the quarter. Hardy Reed LLC’s holdings in Mplx were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. PFG Investments LLC boosted its position in shares of Mplx by 38.5% in the fourth quarter. PFG Investments LLC now owns 38,506 shares of the pipeline company’s stock valued at $1,843,000 after acquiring an additional 10,705 shares during the period. Walnut Private Equity Partners LLC boosted its position 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 during the period. 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 purchasing 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 purchasing 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 purchasing an additional 19,320 shares in the last quarter. 24.25% of the stock is owned by institutional investors.

Mplx Stock Performance

Mplx stock opened at $53.76 on Thursday. The stock has a 50-day simple moving average of $50.24 and a 200 day simple moving average of $46.67. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. Mplx Lp has a 12-month low of $38.44 and a 12-month high of $54.74. The stock has a market capitalization of $54.77 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 2.39 and a beta of 1.42.

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

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $0.9565 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.12%. Mplx’s dividend payout ratio is 90.97%.

Analysts Set New Price Targets

A number of research analysts recently commented on MPLX shares. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Truist Financial upped their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group upped their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Raymond James increased their price objective on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Barclays lifted their price objective on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.11.

About Mplx

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.