Royal Harbor Partners LLC Cuts Stake in Mplx Lp (NYSE:MPLX)

Royal Harbor Partners LLC cut its position in shares of Mplx Lp (NYSE:MPLX) by 15.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,999 shares of the pipeline company’s stock after selling 1,060 shares during the period. Royal Harbor Partners LLC’s holdings in Mplx were worth $287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC bought a new position in Mplx during the third quarter valued at approximately $51,000. Geneos Wealth Management Inc. lifted its stake in shares of Mplx by 56.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after acquiring an additional 409 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Mplx during the 4th quarter worth approximately $98,000. Allworth Financial LP lifted its stake in shares of Mplx by 25.1% during the 4th quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock worth $134,000 after acquiring an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Mplx by 393.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after acquiring an additional 2,751 shares during the last quarter. 24.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. UBS Group raised their price objective on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Raymond James raised their price objective on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Truist Financial raised their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a report on Sunday. One equities research 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Stock Up 0.2 %

Mplx stock opened at $53.17 on Thursday. 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 stock has a market capitalization of $54.17 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.69 and a beta of 1.42. Mplx Lp has a 1-year low of $39.56 and a 1-year high of $54.79. The business has a fifty day moving average price of $51.46 and a 200-day moving average price of $47.56.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, topping 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 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 firm posted $1.10 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $0.9565 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a yield of 7.20%. Mplx’s dividend payout ratio is currently 90.74%.

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.