Prevail Innovative Wealth Advisors LLC Acquires 17,042 Shares of Mplx Lp $MPLX

Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Mplx Lp (NYSE:MPLX) by 29.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,091 shares of the pipeline company’s stock after purchasing an additional 17,042 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Mplx were worth $4,008,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MPLX. CIBC Bancorp USA Inc. bought a new stake in shares of Mplx during the 3rd quarter worth $134,319,000. Bank of America Corp DE raised its stake in shares of Mplx by 8.3% during the 2nd quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock worth $508,590,000 after purchasing an additional 757,569 shares during the period. Merewether Investment Management LP bought a new stake in shares of Mplx during the 2nd quarter worth $16,988,000. Alps Advisors Inc. raised its stake in shares of Mplx by 1.2% during the 3rd quarter. Alps Advisors Inc. now owns 26,409,654 shares of the pipeline company’s stock worth $1,319,162,000 after purchasing an additional 325,451 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Mplx by 4.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,060,024 shares of the pipeline company’s stock worth $352,648,000 after purchasing an additional 300,321 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MPLX has been the topic of a number of recent analyst reports. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Truist Financial dropped their price objective on shares of Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings downgraded shares of Mplx from a “buy (a)” rating to a “buy (a-)” rating in a report on Monday. Barclays upped their price objective on shares of Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, Stifel Nicolaus upped their price objective on shares of Mplx from $57.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.60.

Mplx Price Performance

NYSE MPLX opened at $55.53 on Thursday. The company has a market cap of $56.34 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 5.27 and a beta of 0.49. Mplx Lp has a 52 week low of $47.80 and a 52 week high of $59.98. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71. The firm’s 50-day simple moving average is $56.34 and its two-hundred day simple moving average is $55.39.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.15). The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. Mplx’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. Research analysts predict that Mplx Lp will post 4.27 earnings per share for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were issued a $1.0765 dividend. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend was Friday, May 8th. Mplx’s dividend payout ratio is presently 93.29%.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.