Pacifica Partners Inc. Takes Position in Mplx Lp (NYSE:MPLX)

Pacifica Partners Inc. acquired a new position in shares of Mplx Lp (NYSE:MPLX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,000 shares of the pipeline company’s stock, valued at approximately $41,000.

Other large investors have also bought and sold shares of the company. PSI Advisors LLC boosted its position in Mplx by 63.6% during the fourth 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 period. HBC Financial Services PLLC purchased a new stake in shares of Mplx during the fourth quarter valued at approximately $36,000. Fortitude Family Office LLC bought a new position in Mplx in the fourth quarter worth about $41,000. SouthState Corp bought a new position in shares of Mplx in the 4th quarter worth approximately $51,000. Finally, Advantage Trust Co bought a new stake in shares of Mplx during the fourth quarter valued at approximately $51,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MPLX has been the topic of several analyst reports. Stifel Nicolaus boosted their target price on Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group increased their price objective on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. lifted their target price on shares of Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Barclays raised their price target on Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Truist Financial increased their target price on Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $45.11.

Mplx Stock Performance

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

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, equities research analysts forecast that Mplx Lp will post 4.01 EPS for the current fiscal year.

Mplx Dividend Announcement

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

Mplx Profile

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.