Marble Harbor Investment Counsel LLC Has $334,000 Stake in Mplx Lp (NYSE:MPLX)

Marble Harbor Investment Counsel LLC lifted its stake in shares of Mplx Lp (NYSE:MPLX) by 19.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,980 shares of the pipeline company’s stock after purchasing an additional 1,130 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Mplx were worth $334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake 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 buying an additional 409 shares during the period. Cedar Wealth Management LLC acquired a new stake in Mplx during the 3rd quarter valued at approximately $51,000. Crewe Advisors LLC acquired a new stake in Mplx during the 4th quarter valued at approximately $98,000. Allworth Financial LP increased its position in Mplx by 25.1% during the 4th quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock valued at $134,000 after purchasing an additional 517 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after buying an additional 2,751 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays increased their price objective 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. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Raymond James raised their target price on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company raised their target price on Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Truist Financial raised their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.11.

Mplx Trading Up 0.6 %

NYSE MPLX opened at $52.65 on Friday. The company has a market cap of $53.64 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.69 and a beta of 1.40. Mplx Lp has a 52 week low of $39.56 and a 52 week high of $54.79. The business has a 50 day moving average price of $51.66 and a 200-day moving average price of $47.66. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

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 during 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 previous year, the business posted $1.10 EPS. As a group, equities analysts expect that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.9565 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a yield of 7.27%. Mplx’s dividend payout ratio (DPR) is currently 90.74%.

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.