Spire Wealth Management Has $390,000 Stock Holdings in Mplx Lp (NYSE:MPLX)

Spire Wealth Management decreased its position in shares of Mplx Lp (NYSE:MPLX) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,145 shares of the pipeline company’s stock after selling 547 shares during the quarter. Spire Wealth Management’s holdings in Mplx were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MPLX. Geneos Wealth Management Inc. lifted its holdings in shares of Mplx by 56.3% in 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 in the last quarter. Cedar Wealth Management LLC bought a new position in Mplx during the 3rd quarter valued at $51,000. Farther Finance Advisors LLC boosted 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 last quarter. Archford Capital Strategies LLC purchased a new stake in shares of Mplx in the fourth quarter valued at about $200,000. Finally, Marcum Wealth LLC bought a new position in shares of Mplx during the fourth quarter valued at about $205,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Up 2.2 %

MPLX stock opened at $53.78 on Thursday. Mplx Lp has a fifty-two week low of $37.44 and a fifty-two week high of $53.93. The stock has a fifty day moving average of $49.49 and a 200-day moving average of $45.91. The company has a market capitalization of $54.79 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.33 and a beta of 1.42. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $1.10 earnings per share. As a group, equities research analysts predict that Mplx Lp will post 4.18 earnings per share for the current year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.9565 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.83 annualized dividend and a dividend yield of 7.11%. Mplx’s dividend payout ratio is currently 90.09%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MPLX. Wells Fargo & Company upped their price objective on shares of Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Bank of America assumed coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target on the stock. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Finally, Truist Financial boosted their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Mplx presently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

Insider Transactions at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, the vice president now directly owns 14,750 shares of the company’s stock, valued at approximately $696,790. This represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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.