Chung Wu Investment Group LLC Acquires New Holdings in Mplx Lp (NYSE:MPLX)

Chung Wu Investment Group LLC acquired a new stake in Mplx Lp (NYSE:MPLX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 8,800 shares of the pipeline company’s stock, valued at approximately $421,000.

A number of other large investors have also recently bought and sold shares of MPLX. Geneos Wealth Management Inc. grew 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 purchasing an additional 409 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of Mplx in the 3rd quarter valued at about $51,000. Crewe Advisors LLC bought a new stake in shares of Mplx during the fourth quarter worth approximately $98,000. Allworth Financial LP boosted its stake in Mplx by 25.1% in 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 during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Mplx by 393.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after acquiring an additional 2,751 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada boosted their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. 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 report on Friday, November 15th. Raymond James upped their price objective on shares of Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Barclays increased 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. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.11.

Mplx Stock Performance

NYSE MPLX opened at $53.17 on Thursday. The firm’s fifty day moving average price is $51.46 and its two-hundred day moving average price is $47.56. The firm has a market capitalization of $54.17 billion, a P/E ratio of 12.63, a price-to-earnings-growth 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. Mplx Lp has a 1 year low of $39.56 and a 1 year high of $54.79.

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

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $0.9565 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.20%. Mplx’s payout ratio is 90.74%.

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.