Marcum Wealth LLC Acquires New Position in Mplx Lp (NYSE:MPLX)

Marcum Wealth LLC bought a new position in shares of Mplx Lp (NYSE:MPLX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,286 shares of the pipeline company’s stock, valued at approximately $205,000.

Several other large investors also recently bought and sold shares of the stock. Cedar Wealth Management LLC acquired a new stake in shares of Mplx during the third quarter worth about $51,000. Farther Finance Advisors LLC lifted its stake in Mplx by 393.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after acquiring an additional 2,751 shares during the period. Zhang Financial LLC purchased a new stake in shares of Mplx in the 3rd quarter valued at $202,000. Alpha Cubed Investments LLC acquired a new stake in shares of Mplx in the third quarter worth $204,000. Finally, Gladstone Institutional Advisory LLC purchased a new position in shares of Mplx during the third quarter worth $210,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Insider Activity

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the transaction, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analyst Weigh In

MPLX has been the topic of several recent research reports. Royal Bank of Canada upped their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Bank of America initiated coverage on Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. UBS Group upped their price objective on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Truist Financial lifted their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Barclays boosted their target price on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Mplx Trading Up 0.9 %

MPLX opened at $50.19 on Thursday. The stock has a market capitalization of $51.13 billion, a PE ratio of 11.84, a P/E/G ratio of 2.91 and a beta of 1.43. Mplx Lp has a one year low of $36.76 and a one year high of $51.94. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The business’s 50 day moving average price is $48.21 and its 200 day moving average price is $44.95.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. As a group, equities research analysts expect that Mplx Lp will post 4.18 EPS for the current year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.9565 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.62%. Mplx’s dividend payout ratio (DPR) is currently 90.09%.

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.