Objectivity Squared LLC Invests $3 Million in Mplx Lp (NYSE:MPLX)

Objectivity Squared LLC acquired a new position in Mplx Lp (NYSE:MPLX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 81,609 shares of the pipeline company’s stock, valued at approximately $2,997,000. Mplx comprises about 3.0% of Objectivity Squared LLC’s portfolio, making the stock its 11th biggest position.

Several other large investors also recently added to or reduced their stakes in MPLX. Alps Advisors Inc. grew 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 valued at $1,023,413,000 after buying an additional 4,579,152 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Mplx by 4.0% during the third quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company’s stock worth $744,036,000 after purchasing an additional 809,273 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Mplx by 2.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,463,737 shares of the pipeline company’s stock worth $237,348,000 after purchasing an additional 154,529 shares in the last quarter. UBS Group AG grew its holdings in shares of Mplx by 12.2% during the third quarter. UBS Group AG now owns 5,869,436 shares of the pipeline company’s stock worth $208,776,000 after purchasing an additional 639,199 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Mplx by 440.5% during the third quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company’s stock worth $200,946,000 after purchasing an additional 4,604,066 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MPLX has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price objective on Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Raymond James boosted their target price on Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Truist Financial boosted their target price on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Mplx has an average rating of “Moderate Buy” and an average target price of $45.11.

Mplx Trading Down 0.1 %

MPLX stock traded down $0.03 on Friday, reaching $40.21. The company’s stock had a trading volume of 1,998,000 shares, compared to its average volume of 2,187,359. The business has a fifty day simple moving average of $41.09 and a two-hundred day simple moving average of $38.66. Mplx Lp has a 12-month low of $33.12 and a 12-month high of $42.90. The firm has a market cap of $40.86 billion, a PE ratio of 10.37, a PEG ratio of 2.31 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 posted its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. Mplx’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. As a group, research analysts forecast that Mplx Lp will post 4.01 EPS for the current year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Friday, May 3rd were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $3.40 annualized dividend and a dividend yield of 8.46%. Mplx’s payout ratio is presently 87.63%.

Mplx Company 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.