Mplx Lp (NYSE:MPLX) Shares Purchased by Westover Capital Advisors LLC

Westover Capital Advisors LLC grew its stake in shares of Mplx Lp (NYSE:MPLX) by 31.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,800 shares of the pipeline company’s stock after acquiring an additional 4,300 shares during the quarter. Westover Capital Advisors LLC’s holdings in Mplx were worth $852,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MPLX. ING Groep NV increased its position in Mplx by 69.8% during the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after purchasing an additional 2,725,000 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Mplx by 0.8% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company’s stock valued at $255,003,000 after buying an additional 45,271 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in shares of Mplx by 4.9% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,933,486 shares of the pipeline company’s stock worth $85,963,000 after buying an additional 90,793 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Mplx by 1.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,568,200 shares of the pipeline company’s stock worth $75,054,000 after buying an additional 17,900 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Mplx by 0.5% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,506,962 shares of the pipeline company’s stock valued at $72,123,000 after acquiring an additional 8,166 shares during the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Price Performance

MPLX opened at $54.22 on Tuesday. Mplx Lp has a twelve month low of $39.01 and a twelve month high of $54.79. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.69 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. The company has a fifty day simple moving average of $51.27 and a 200 day simple moving average of $47.44.

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

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued 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 yield of 7.06%. Mplx’s dividend payout ratio is presently 90.74%.

Wall Street Analyst Weigh In

MPLX has been the subject of several research analyst reports. Truist Financial upped their price target on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. UBS Group increased their target price 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. Royal Bank of Canada lifted their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Raymond James increased their price objective on shares of Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Barclays raised their target price on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.11.

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.