Trueblood Wealth Management LLC Invests $330,000 in Mplx Lp (NYSE:MPLX)

Trueblood Wealth Management LLC bought a new position in Mplx Lp (NYSE:MPLX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,999 shares of the pipeline company’s stock, valued at approximately $330,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MPLX. Cherry Creek Investment Advisors Inc. boosted its holdings in Mplx by 2.2% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 12,784 shares of the pipeline company’s stock worth $455,000 after acquiring an additional 277 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of Mplx by 1.2% during the first quarter. Prospera Financial Services Inc now owns 26,220 shares of the pipeline company’s stock valued at $903,000 after acquiring an additional 308 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Mplx by 12.9% during the third quarter. Sound Income Strategies LLC now owns 2,710 shares of the pipeline company’s stock valued at $96,000 after acquiring an additional 310 shares during the last quarter. Lee Financial Co increased its position in shares of Mplx by 5.1% during the third quarter. Lee Financial Co now owns 6,821 shares of the pipeline company’s stock valued at $243,000 after acquiring an additional 329 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its position in shares of Mplx by 0.4% during the fourth quarter. First Republic Investment Management Inc. now owns 80,866 shares of the pipeline company’s stock valued at $2,656,000 after acquiring an additional 336 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Price Performance

Shares of Mplx stock traded up $0.25 during trading hours on Thursday, hitting $41.56. The company’s stock had a trading volume of 1,839,242 shares, compared to its average volume of 2,149,548. The business has a 50 day moving average price of $39.01 and a two-hundred day moving average price of $37.03. Mplx Lp has a 12-month low of $33.12 and a 12-month high of $41.66. The company has a market cap of $42.01 billion, a PE ratio of 10.84 and a beta of 1.35. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.01 and a current ratio of 1.07.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, January 30th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.15. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Mplx had a return on equity of 31.85% and a net margin of 34.82%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. Analysts expect that Mplx Lp will post 4 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were issued a dividend of $0.85 per share. The ex-dividend date was Friday, February 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 8.18%. Mplx’s dividend payout ratio is currently 89.24%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MPLX. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 31st. Royal Bank of Canada raised their target price on Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. UBS Group raised their target price on Mplx from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Raymond James raised their price target on Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Mplx has an average rating of “Buy” and a consensus price target of $42.71.

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.