Apollon Wealth Management LLC Raises Stock Holdings in Mplx Lp (NYSE:MPLX)

Apollon Wealth Management LLC lifted its holdings in Mplx Lp (NYSE:MPLX) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,394 shares of the pipeline company’s stock after purchasing an additional 1,992 shares during the quarter. Apollon Wealth Management LLC’s holdings in Mplx were worth $1,153,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. JFS Wealth Advisors LLC bought a new stake in shares of Mplx in the 3rd quarter valued at approximately $33,000. PSI Advisors LLC lifted its position in Mplx by 63.6% in the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after buying an additional 350 shares during the last quarter. HBC Financial Services PLLC purchased a new position in Mplx during the fourth quarter worth $36,000. Fortitude Family Office LLC bought a new position in Mplx during the fourth quarter valued at $41,000. Finally, Rational Advisors LLC bought a new stake in shares of Mplx in the 3rd quarter worth about $43,000. Institutional investors own 24.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MPLX has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 1st. Barclays increased their price target on Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Raymond James boosted their price objective on Mplx from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Royal Bank of Canada increased their target price on Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Truist Financial lifted 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.11.

Mplx Price Performance

MPLX opened at $41.77 on Thursday. The company has a market capitalization of $42.22 billion, a price-to-earnings ratio of 10.77 and a beta of 1.35. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. Mplx Lp has a 12-month low of $33.12 and a 12-month high of $42.90. The business’s fifty day simple moving average is $40.88 and its 200-day simple moving average is $38.28.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the company earned $0.91 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Mplx Lp will post 4.06 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 8.14%. The ex-dividend date of this dividend is Thursday, May 2nd. Mplx’s dividend payout ratio (DPR) is 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.