Mplx (NYSE:MPLX) Reaches New 1-Year High – Here’s What Happened

Mplx Lp (NYSE:MPLX) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $54.45 and last traded at $54.35, with a volume of 403134 shares changing hands. The stock had previously closed at $53.71.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Truist Financial raised their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 5th. Royal Bank of Canada raised their price target on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company upped their price objective on shares of Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.11.

Mplx Price Performance

The business’s fifty day moving average price is $49.89 and its 200 day moving average price is $46.38. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The stock has a market cap of $55.12 billion, a P/E ratio of 12.86, a PEG ratio of 2.38 and a beta of 1.42.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 EPS. Sell-side analysts forecast that Mplx Lp will post 4.39 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 dividend on an annualized basis and a yield of 7.07%. Mplx’s dividend payout ratio is currently 90.97%.

Insider Buying and Selling at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Mplx

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Mplx in the 3rd quarter valued at $422,000. Creative Planning boosted its position in Mplx by 45.4% during the third quarter. Creative Planning now owns 51,508 shares of the pipeline company’s stock valued at $2,290,000 after acquiring an additional 16,076 shares during the last quarter. Secure Asset Management LLC bought a new stake in Mplx during the third quarter valued at $225,000. Claro Advisors LLC grew its holdings in Mplx by 52.2% during the 3rd quarter. Claro Advisors LLC now owns 7,994 shares of the pipeline company’s stock worth $355,000 after acquiring an additional 2,741 shares during the period. Finally, Capital Investment Advisors LLC bought a new position in shares of Mplx in the 3rd quarter worth about $256,000. 24.25% of the stock is currently owned by institutional investors.

Mplx Company 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.