Foundations Investment Advisors LLC Acquires New Holdings in Mplx Lp $MPLX

Foundations Investment Advisors LLC acquired a new stake in shares of Mplx Lp (NYSE:MPLX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,449 shares of the pipeline company’s stock, valued at approximately $611,000.

Other institutional investors also recently added to or reduced their stakes in the company. Solstein Capital LLC bought a new stake in Mplx during the third quarter valued at about $25,000. EQ Wealth Advisors LLC acquired a new stake in Mplx in the fourth quarter worth about $32,000. Wiser Advisor Group LLC acquired a new stake in Mplx in the third quarter worth about $38,000. Groesbeck Investment Management Corp NJ acquired a new stake in Mplx in the fourth quarter worth about $49,000. Finally, WFA of San Diego LLC acquired a new stake in Mplx in the second quarter worth about $52,000. Institutional investors own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MPLX. Citigroup raised their price target on Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Zacks Research downgraded Mplx from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Truist Financial lowered their price target on Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. The Goldman Sachs Group raised their price target on Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Morgan Stanley lowered their price target on Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Mplx currently has an average rating of “Moderate Buy” and a consensus price target of $61.60.

Mplx Stock Up 0.7%

Shares of MPLX stock opened at $55.02 on Tuesday. The stock has a 50 day moving average of $55.95 and a 200 day moving average of $55.64. 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 stock has a market cap of $55.83 billion, a P/E ratio of 11.91, a P/E/G ratio of 5.22 and a beta of 0.48. Mplx Lp has a twelve month low of $47.80 and a twelve month high of $59.98.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 earnings per share. As a group, sell-side analysts expect that Mplx Lp will post 4.24 EPS for the current 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 given a $1.0765 dividend. The ex-dividend date was Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.8%. Mplx’s payout ratio is 93.29%.

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.