ICA Group Wealth Management LLC Purchases New Shares in Mplx Lp (NYSE:MPLX)

ICA Group Wealth Management LLC acquired a new position in shares of Mplx Lp (NYSE:MPLX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,467 shares of the pipeline company’s stock, valued at approximately $91,000.

Other hedge funds have also bought and sold shares of the company. Alps Advisors Inc. increased its holdings in Mplx by 18.9% during the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock worth $1,023,413,000 after purchasing an additional 4,579,152 shares during the period. Nomura Holdings Inc. bought a new position in shares of Mplx during the 4th quarter worth $67,253,000. Citigroup Inc. increased its stake in shares of Mplx by 60.6% during the third quarter. Citigroup Inc. now owns 2,028,514 shares of the pipeline company’s stock valued at $72,154,000 after buying an additional 765,618 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Mplx by 23.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock valued at $111,200,000 after acquiring an additional 574,737 shares in the last quarter. Finally, ING Groep NV lifted its stake in Mplx by 21.2% in the fourth quarter. ING Groep NV now owns 2,740,500 shares of the pipeline company’s stock worth $100,631,000 after acquiring an additional 480,000 shares during the period. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Down 0.2 %

Mplx stock opened at $41.02 on Tuesday. Mplx Lp has a 52 week low of $33.12 and a 52 week high of $42.90. The firm has a market cap of $41.68 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The business’s 50-day moving average price is $40.93 and its 200 day moving average price is $39.30. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a net margin of 34.96% and a return on equity of 31.70%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Mplx Lp will post 4.01 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were issued a $0.85 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 8.29%. Mplx’s payout ratio is 87.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MPLX shares. Truist Financial boosted their price target on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Barclays upped their target price on Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 13th. Stifel Nicolaus upped their price objective on Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, UBS Group lifted their target price on Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 12th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $45.11.

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.