BridgePort Financial Solutions LLC Takes Position in Mplx Lp $MPLX

BridgePort Financial Solutions LLC acquired a new stake in shares of Mplx Lp (NYSE:MPLX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,154 shares of the pipeline company’s stock, valued at approximately $542,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC purchased a new stake in Mplx during the 2nd quarter valued at $26,000. Solstein Capital LLC purchased a new position in shares of Mplx in the 3rd quarter worth $25,000. FSC Wealth Advisors LLC purchased a new position in shares of Mplx in the 2nd quarter worth $29,000. Operose Advisors LLC grew its holdings in shares of Mplx by 216.2% in the second quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 400 shares during the period. Finally, Caldwell Trust Co bought a new stake in shares of Mplx in the second quarter worth $33,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MPLX. Wall Street Zen raised Mplx from a “hold” rating to a “buy” rating in a report on Monday, March 23rd. Wells Fargo & Company boosted their price target on Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Citigroup increased their price objective on shares of Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Truist Financial assumed coverage on shares of Mplx in a report on Tuesday, March 24th. They issued a “buy” rating and a $67.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.56.

Mplx Price Performance

NYSE MPLX opened at $55.97 on Friday. The business’s fifty day moving average is $57.34 and its 200 day moving average is $54.10. Mplx Lp has a fifty-two week low of $44.60 and a fifty-two week high of $59.98. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.23. The company has a market capitalization of $56.82 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 5.12 and a beta of 0.56.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were issued a $1.0765 dividend. This represents a $4.31 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Monday, February 9th. Mplx’s dividend payout ratio is currently 89.42%.

Mplx Company 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.