Simplicity Wealth LLC Increases Holdings in Mplx Lp (NYSE:MPLX)

Simplicity Wealth LLC raised its stake in shares of Mplx Lp (NYSE:MPLX) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 162,749 shares of the pipeline company’s stock after buying an additional 5,164 shares during the period. Mplx comprises approximately 1.6% of Simplicity Wealth LLC’s holdings, making the stock its 11th largest position. Simplicity Wealth LLC’s holdings in Mplx were worth $7,789,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its position in shares of Mplx by 56.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after acquiring an additional 409 shares during the period. Cedar Wealth Management LLC bought a new stake in shares of Mplx during the 3rd quarter valued at $51,000. Crewe Advisors LLC bought a new stake in shares of Mplx during the 4th quarter valued at $98,000. Allworth Financial LP grew its position in shares of 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 acquiring an additional 517 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Mplx by 393.0% in the 3rd 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. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Stock Up 0.6 %

MPLX opened at $52.65 on Monday. The firm has a 50-day simple moving average of $51.66 and a two-hundred day simple moving average of $47.74. Mplx Lp has a 52 week low of $39.56 and a 52 week high of $54.79. The company has a market capitalization of $53.64 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.40. 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 earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. Analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MPLX shares. Royal Bank of Canada upped their target price on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Truist Financial upped their target price on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Raymond James upped their target price on shares of Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. UBS Group upped their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Barclays upped their target price on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and an average price target of $52.11.

Mplx 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.