Chung Wu Investment Group LLC Makes New Investment in Mplx Lp (NYSE:MPLX)

Chung Wu Investment Group LLC purchased a new stake in Mplx Lp (NYSE:MPLX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,800 shares of the pipeline company’s stock, valued at approximately $421,000.

A number of other hedge funds have also recently bought and sold shares of the business. Cedar Wealth Management LLC bought a new stake in shares of Mplx in the third quarter worth $51,000. Geneos Wealth Management Inc. increased its position in shares of Mplx by 56.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after purchasing an additional 409 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Mplx in the 4th quarter valued at about $98,000. Allworth Financial LP lifted its position in shares of Mplx by 25.1% during the fourth quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock worth $134,000 after purchasing an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Mplx by 393.0% in the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after purchasing an additional 2,751 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MPLX. Truist Financial increased their target price on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Raymond James lifted their price target on shares of Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Wells Fargo & Company raised their target price on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada upped their price target on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Mplx presently has a consensus rating of “Moderate Buy” and an average price target of $52.11.

Mplx Stock Up 0.2 %

Shares of MPLX stock opened at $53.17 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The stock has a market cap of $54.17 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. The business’s fifty day moving average is $51.46 and its 200-day moving average is $47.56. Mplx Lp has a 1 year low of $39.56 and a 1 year high of $54.79.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. The company 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%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 EPS. Equities analysts expect that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date was Monday, February 3rd. Mplx’s dividend payout ratio is 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.