GraniteShares Advisors LLC Boosts Stake in Mplx Lp (NYSE:MPLX)

GraniteShares Advisors LLC raised its holdings in shares of Mplx Lp (NYSE:MPLX) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,441 shares of the pipeline company’s stock after buying an additional 237 shares during the quarter. GraniteShares Advisors LLC’s holdings in Mplx were worth $2,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FourThought Financial Partners LLC grew its position in Mplx by 26.7% during the fourth quarter. FourThought Financial Partners LLC now owns 67,635 shares of the pipeline company’s stock worth $3,237,000 after buying an additional 14,262 shares in the last quarter. IFP Advisors Inc grew its position in Mplx by 24.6% during the fourth quarter. IFP Advisors Inc now owns 8,792 shares of the pipeline company’s stock worth $421,000 after buying an additional 1,736 shares in the last quarter. Colonial River Investments LLC grew its position in Mplx by 10.3% during the fourth quarter. Colonial River Investments LLC now owns 11,403 shares of the pipeline company’s stock worth $546,000 after buying an additional 1,066 shares in the last quarter. Marshall Investment Management LLC purchased a new position in Mplx during the fourth quarter worth about $468,000. Finally, Sigma Planning Corp grew its position in Mplx by 18.0% during the fourth quarter. Sigma Planning Corp now owns 7,690 shares of the pipeline company’s stock worth $368,000 after buying an additional 1,171 shares in the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Trading Down 0.4 %

MPLX opened at $52.92 on Wednesday. The business has a 50 day simple moving average of $50.76 and a two-hundred day simple moving average of $47.10. The firm has a market capitalization of $53.92 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.69 and a beta of 1.42. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a one year low of $38.44 and a one year high of $54.74.

Mplx (NYSE:MPLX) last released 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 during the quarter, compared to analyst estimates of $3.07 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. Mplx’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.10 EPS. Analysts predict that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s payout ratio is 90.74%.

Analyst Ratings Changes

Several equities research analysts have issued reports on MPLX shares. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Royal Bank of Canada lifted their price target on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Raymond James lifted their price target on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Truist Financial lifted 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. Finally, UBS Group lifted their price target on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Mplx has a consensus rating of “Moderate Buy” and a consensus price target of $52.11.

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.