Oppenheimer & Co. Inc. Raises Holdings in Mplx Lp (NYSE:MPLX)

Oppenheimer & Co. Inc. lifted its stake in Mplx Lp (NYSE:MPLXFree Report) by 35.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 37,417 shares of the pipeline company’s stock after acquiring an additional 9,717 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Mplx were worth $1,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. PSI Advisors LLC boosted its stake in shares of Mplx by 63.6% in the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after buying an additional 350 shares during the last quarter. HBC Financial Services PLLC purchased a new stake in shares of Mplx in the fourth quarter worth about $36,000. Fortitude Family Office LLC purchased a new stake in shares of Mplx in the fourth quarter worth about $41,000. Rational Advisors LLC purchased a new stake in shares of Mplx in the third quarter worth about $43,000. Finally, SouthState Corp purchased a new stake in shares of Mplx in the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

MPLX has been the subject of a number of analyst reports. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 5th. UBS Group upped their price target on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Truist Financial upped their price target on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. upped their price target on Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Barclays upped their price target on Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.11.

Check Out Our Latest Stock Analysis on MPLX

Mplx Price Performance

Shares of Mplx stock opened at $41.24 on Tuesday. The business has a 50 day simple moving average of $41.04 and a two-hundred day simple moving average of $39.12. Mplx Lp has a 12 month low of $33.12 and a 12 month high of $42.90. The stock has a market capitalization of $41.91 billion, a P/E ratio of 10.63, a PEG ratio of 2.05 and a beta of 1.36. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.72 and a quick ratio of 0.67.

Mplx (NYSE:MPLXGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts predict that Mplx Lp will post 4.01 EPS for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 8.24%. Mplx’s payout ratio is 87.63%.

Mplx Company Profile

(Free Report)

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.

See Also

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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