Burford Brothers Inc. Acquires New Holdings in Mplx Lp $MPLX

Burford Brothers Inc. acquired a new stake in shares of Mplx Lp (NYSE:MPLX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,828 shares of the pipeline company’s stock, valued at approximately $609,000.

Several other institutional investors have also added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC acquired a new stake in Mplx in the second quarter worth about $776,894,000. Goldman Sachs Group Inc. boosted its holdings in Mplx by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company’s stock worth $730,506,000 after acquiring an additional 83,392 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in Mplx by 38.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company’s stock worth $416,817,000 after acquiring an additional 2,153,490 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Mplx by 0.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,456 shares of the pipeline company’s stock worth $372,256,000 after acquiring an additional 50,979 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Mplx by 14.9% in the first quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company’s stock worth $270,060,000 after acquiring an additional 654,489 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MPLX shares. Wells Fargo & Company decreased their target price on Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, September 23rd. Wall Street Zen downgraded Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Morgan Stanley lifted their target price on Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 26th. Weiss Ratings downgraded Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, October 8th. Finally, Barclays lifted their target price on Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Mplx presently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Mplx Stock Up 1.0%

Shares of MPLX stock opened at $49.01 on Friday. The stock has a 50 day moving average of $50.08 and a 200 day moving average of $50.52. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40. The stock has a market cap of $49.94 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.33 and a beta of 0.68. Mplx Lp has a twelve month low of $43.54 and a twelve month high of $54.87.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Mplx had a net margin of 35.44% and a return on equity of 30.95%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. As a group, sell-side analysts expect that Mplx Lp will post 4.41 EPS for the current year.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.