Mplx Lp (NYSE:MPLX) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in shares of Mplx Lp (NYSE:MPLX) by 3.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,213 shares of the pipeline company’s stock after purchasing an additional 1,187 shares during the quarter. Apollon Wealth Management LLC’s holdings in Mplx were worth $1,542,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC boosted its stake in shares of Mplx by 5,070.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company’s stock worth $46,797,000 after acquiring an additional 958,881 shares in the last quarter. Kercheville Advisors LLC boosted its position in Mplx by 1.6% during the fourth quarter. Kercheville Advisors LLC now owns 166,411 shares of the pipeline company’s stock worth $7,964,000 after purchasing an additional 2,550 shares in the last quarter. Robertson Stephens Wealth Management LLC boosted its position in Mplx by 37.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 11,532 shares of the pipeline company’s stock worth $552,000 after purchasing an additional 3,139 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Mplx in the fourth quarter valued at $98,000. Finally, Tectonic Advisors LLC raised its stake in shares of Mplx by 8.5% during the 4th quarter. Tectonic Advisors LLC now owns 205,438 shares of the pipeline company’s stock worth $9,832,000 after buying an additional 16,068 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MPLX shares. Wells Fargo & Company increased their price objective on shares of Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. UBS Group increased their price target on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Raymond James lifted their price objective on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their target price on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Finally, Truist Financial boosted their price target on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Stock Performance

Mplx stock opened at $53.67 on Tuesday. The stock has a fifty day moving average price of $49.65 and a 200 day moving average price of $46.13. Mplx Lp has a 52 week low of $37.78 and a 52 week high of $54.18. The firm has a market capitalization of $54.67 billion, a P/E ratio of 12.75, a PEG ratio of 2.38 and a beta of 1.42. 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 posted its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the prior year, the company posted $1.10 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Mplx Lp will post 4.39 earnings per share for the current year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend is Monday, February 3rd. Mplx’s dividend payout ratio is currently 90.97%.

Insider Buying and Selling at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. The trade was a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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.