Balboa Wealth Partners Invests $217,000 in Mplx Lp (NYSE:MPLX)

Balboa Wealth Partners bought a new position in Mplx Lp (NYSE:MPLX) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 5,921 shares of the pipeline company’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PSI Advisors LLC lifted its position in shares of Mplx by 63.6% in the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 350 shares during the period. HBC Financial Services PLLC purchased a new stake in shares of Mplx in the 4th quarter worth about $36,000. Fortitude Family Office LLC purchased a new stake in shares of Mplx in the 4th quarter worth about $41,000. Rational Advisors LLC purchased a new position in Mplx during the 3rd quarter valued at about $43,000. Finally, SouthState Corp purchased a new position in Mplx during the 4th quarter valued at about $51,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Stock Performance

Shares of MPLX stock traded up $0.29 during trading hours on Thursday, reaching $40.62. The company had a trading volume of 789,324 shares, compared to its average volume of 2,177,744. The business has a fifty day moving average price of $41.09 and a 200-day moving average price of $38.65. Mplx Lp has a one year low of $33.12 and a one year high of $42.90. The firm has a market cap of $41.28 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 2.35 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.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Mplx Lp will post 4 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 2nd. This represents a $3.40 annualized dividend and a yield of 8.37%. Mplx’s dividend payout ratio (DPR) is 87.63%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Raymond James lifted their price target on shares of Mplx from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Stifel Nicolaus lifted their price target on shares of Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Truist Financial lifted their price target on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate 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.