Doliver Advisors LP Sells 1,047 Shares of Mplx Lp (NYSE:MPLX)

Doliver Advisors LP cut its holdings in shares of Mplx Lp (NYSE:MPLX) by 2.1% in the 1st quarter, HoldingsChannel reports. The fund owned 47,723 shares of the pipeline company’s stock after selling 1,047 shares during the period. Mplx makes up approximately 0.6% of Doliver Advisors LP’s investment portfolio, making the stock its 23rd biggest holding. Doliver Advisors LP’s holdings in Mplx were worth $1,983,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. PSI Advisors LLC increased its stake in Mplx by 63.6% in the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. HBC Financial Services PLLC purchased a new stake in Mplx in the 4th quarter valued at about $36,000. Fortitude Family Office LLC purchased a new stake in Mplx in the 4th quarter valued at about $41,000. Pacifica Partners Inc. purchased a new stake in Mplx in the 1st quarter valued at about $41,000. Finally, SouthState Corp purchased a new stake in Mplx in the 4th quarter valued at about $51,000. 24.25% of the stock is owned by institutional investors.

Mplx Stock Performance

MPLX traded up $0.90 on Monday, hitting $42.32. The company’s stock had a trading volume of 1,429,981 shares, compared to its average volume of 2,110,459. The company’s 50 day simple moving average is $40.97 and its 200-day simple moving average is $39.47. The firm has a market cap of $43.01 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 2.06 and a beta of 1.35. Mplx Lp has a 12 month low of $33.33 and a 12 month high of $42.90. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts forecast that Mplx Lp will post 4.01 EPS for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Friday, May 3rd were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 8.03%. The ex-dividend date of this dividend was Thursday, May 2nd. Mplx’s payout ratio is 87.63%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MPLX shares. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Barclays raised their price target on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. raised their price target on shares of Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Truist Financial raised their price target on shares of Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus raised their price target on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $45.11.

About Mplx

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.