Prevail Innovative Wealth Advisors LLC Increases Stock Holdings in Mplx Lp $MPLX

Prevail Innovative Wealth Advisors LLC lifted its position in Mplx Lp (NYSE:MPLX) by 29.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,091 shares of the pipeline company’s stock after purchasing an additional 17,042 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Mplx were worth $4,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Mplx by 52.9% in the fourth quarter. IFP Advisors Inc now owns 7,542 shares of the pipeline company’s stock worth $403,000 after buying an additional 2,609 shares in the last quarter. Adell Harriman & Carpenter Inc. lifted its holdings in shares of Mplx by 3.9% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 87,670 shares of the pipeline company’s stock worth $4,679,000 after buying an additional 3,275 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Mplx by 1.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 114,423 shares of the pipeline company’s stock worth $6,107,000 after buying an additional 1,400 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Mplx by 68.3% in the fourth quarter. Larson Financial Group LLC now owns 20,911 shares of the pipeline company’s stock worth $1,116,000 after purchasing an additional 8,488 shares during the last quarter. Finally, Aviance Capital Partners LLC increased its position in shares of Mplx by 11.6% in the fourth quarter. Aviance Capital Partners LLC now owns 14,474 shares of the pipeline company’s stock worth $772,000 after purchasing an additional 1,500 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MPLX. Weiss Ratings cut shares of Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research report on Monday. Stifel Nicolaus upped their price objective on shares of Mplx from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. UBS Group upped their price objective on shares of Mplx from $64.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Truist Financial decreased their price objective on shares of Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.60.

Mplx Stock Down 0.1%

MPLX stock opened at $55.53 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. The company’s 50 day moving average is $56.34 and its 200 day moving average is $55.39. The stock has a market cap of $56.34 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 5.27 and a beta of 0.49. Mplx Lp has a 1-year low of $47.80 and a 1-year high of $59.98.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.15). The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. Sell-side analysts predict that Mplx Lp will post 4.27 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $1.0765 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.8%. Mplx’s dividend payout ratio is 93.29%.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.