Strategic Financial Concepts LLC Purchases 958,881 Shares of Mplx Lp (NYSE:MPLX)

Strategic Financial Concepts LLC boosted its holdings in shares of Mplx Lp (NYSE:MPLX) by 5,070.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 977,794 shares of the pipeline company’s stock after buying an additional 958,881 shares during the period. Strategic Financial Concepts LLC’s holdings in Mplx were worth $46,797,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MPLX. Kercheville Advisors LLC boosted its position in shares of Mplx by 1.6% during the fourth quarter. Kercheville Advisors LLC now owns 166,411 shares of the pipeline company’s stock valued at $7,964,000 after buying an additional 2,550 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in Mplx by 37.4% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 11,532 shares of the pipeline company’s stock worth $552,000 after acquiring an additional 3,139 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Mplx in the 4th quarter worth $98,000. Tectonic Advisors LLC raised its holdings in shares of Mplx by 8.5% in the fourth quarter. Tectonic Advisors LLC now owns 205,438 shares of the pipeline company’s stock valued at $9,832,000 after purchasing an additional 16,068 shares during the last quarter. Finally, Groesbeck Investment Management Corp NJ bought a new position in shares of Mplx during the fourth quarter valued at about $804,000. 24.25% of the stock is owned by institutional investors.

Mplx Stock Down 0.5 %

Mplx stock opened at $53.53 on Friday. The firm has a market capitalization of $54.54 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.33 and a beta of 1.42. The firm has a 50 day simple moving average of $49.56 and a 200 day simple moving average of $45.97. Mplx Lp has a 1-year low of $37.47 and a 1-year high of $54.18. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. On average, analysts predict that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $0.9565 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.15%. Mplx’s dividend payout ratio (DPR) is presently 90.33%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MPLX. Truist Financial increased their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays lifted their price target on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price objective on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Bank of America assumed coverage on Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price on the stock. Finally, UBS Group lifted their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, Mplx has a consensus rating of “Moderate Buy” and an average target price of $52.11.

Insider Buying and Selling

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the transaction, the vice president now directly owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.