Simplicity Wealth LLC Boosts Stake in Mplx Lp (NYSE:MPLX)

Simplicity Wealth LLC raised its position in Mplx Lp (NYSE:MPLX) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,749 shares of the pipeline company’s stock after purchasing an additional 5,164 shares during the quarter. Mplx accounts for approximately 1.6% of Simplicity Wealth LLC’s holdings, making the stock its 11th biggest holding. Simplicity Wealth LLC’s holdings in Mplx were worth $7,789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC bought a new stake in shares of Mplx during the third quarter valued at approximately $51,000. Geneos Wealth Management Inc. raised its stake in shares of Mplx by 56.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after acquiring an additional 409 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Mplx during the fourth quarter valued at approximately $98,000. Allworth Financial LP raised its stake in shares of Mplx by 25.1% during the fourth quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock valued at $134,000 after acquiring an additional 517 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Mplx by 393.0% during the third 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 in the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Price Performance

NYSE MPLX opened at $52.65 on Monday. The firm’s fifty day simple moving average is $51.66 and its two-hundred day simple moving average is $47.74. 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 Lp has a 12-month low of $39.56 and a 12-month high of $54.79. The firm has a market capitalization of $53.64 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.69 and a beta of 1.40.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.9565 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.83 annualized dividend and a dividend yield of 7.27%. Mplx’s payout ratio is currently 90.74%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MPLX. Truist Financial lifted their price target 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. Raymond James lifted their price objective on shares of Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Barclays lifted their price objective on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.11.

Mplx 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.