Mattern Capital Management LLC Invests $206,000 in Mplx Lp (NYSE:MPLX)

Mattern Capital Management LLC purchased a new position in Mplx Lp (NYSE:MPLX) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,300 shares of the pipeline company’s stock, valued at approximately $206,000.

A number of other institutional investors also recently made changes to their positions in MPLX. Cedar Wealth Management LLC acquired a new stake in shares of Mplx in the 3rd quarter worth approximately $51,000. Geneos Wealth Management Inc. lifted its stake in Mplx by 56.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 409 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Mplx during the fourth quarter valued at approximately $98,000. Allworth Financial LP lifted its stake in Mplx by 25.1% during the fourth quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock valued at $134,000 after purchasing an additional 517 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after purchasing an additional 2,751 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Price Performance

NYSE MPLX opened at $53.40 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $50.45 and a 200 day simple moving average of $46.77. The company has a market cap of $54.40 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.68 and a beta of 1.42. Mplx Lp has a 1 year low of $38.44 and a 1 year high of $54.74.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. Mplx’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, sell-side analysts predict that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is presently 90.97%.

Wall Street Analyst Weigh In

Several research firms recently commented on MPLX. Truist Financial increased their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada increased their target price on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Barclays increased their target price on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Raymond James increased their target price on shares of Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company upped their price target on shares of Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and an average target price of $52.11.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.