Trueblood Wealth Management LLC Purchases Shares of 8,999 Mplx Lp (NYSE:MPLX)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Advisor Alliance lifted its position in Mplx by 405.7% during the third quarter. Independent Advisor Alliance now owns 47,395 shares of the pipeline company’s stock valued at $1,686,000 after buying an additional 38,022 shares during the period. Alps Advisors Inc. lifted its position in Mplx by 18.9% during the third 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 during the period. Citigroup Inc. lifted its position in 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. Catalyst Capital Advisors LLC raised its position in shares of Mplx by 99.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 236,365 shares of the pipeline company’s stock worth $8,408,000 after purchasing an additional 118,090 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in shares of Mplx by 10.9% in the 3rd quarter. Hennessy Advisors Inc. now owns 142,949 shares of the pipeline company’s stock worth $5,085,000 after purchasing an additional 14,000 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Raymond James lifted their price target on Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. UBS Group lifted their price objective on Mplx from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Royal Bank of Canada upped 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. Finally, StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $42.71.

Mplx Stock Up 0.6 %

Shares of MPLX traded up $0.25 during midday trading on Thursday, reaching $41.56. 1,839,242 shares of the company were exchanged, compared to its average volume of 2,149,548. The stock has a 50-day moving average price of $39.01 and a 200-day moving average price of $37.03. The company has a market cap of $42.01 billion, a price-to-earnings ratio of 10.84 and a beta of 1.35. Mplx Lp has a 1-year low of $33.12 and a 1-year high of $41.66. The company has a current ratio of 1.07, a quick ratio of 1.01 and a debt-to-equity ratio of 1.52.

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

Mplx Announces Dividend

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

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.