Private Wealth Asset Management LLC Acquires Shares of 500 Mplx Lp $MPLX

Private Wealth Asset Management LLC acquired a new stake in shares of Mplx Lp (NYSE:MPLX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 500 shares of the pipeline company’s stock, valued at approximately $26,000.

Other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Mplx in the 2nd quarter worth about $776,894,000. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Mplx by 38.2% in the 1st 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 during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Mplx by 14.9% in the 1st 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 during the last quarter. Northside Capital Management LLC bought a new stake in shares of Mplx in the 2nd quarter worth about $30,497,000. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Mplx by 54.8% in the 1st quarter. Neuberger Berman Group LLC now owns 996,777 shares of the pipeline company’s stock worth $53,348,000 after acquiring an additional 352,782 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Trading Down 1.6%

Shares of MPLX opened at $48.51 on Friday. Mplx Lp has a 1-year low of $43.54 and a 1-year high of $54.87. The company has a 50-day moving average of $50.11 and a 200 day moving average of $50.58. The firm has a market capitalization of $49.44 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.34 and a beta of 0.68. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). The business 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 company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS. On average, research analysts expect that Mplx Lp will post 4.41 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, September 23rd. Morgan Stanley raised their target price on shares of Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 26th. Zacks Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 8th. Barclays lifted their price objective on shares of Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, Wall Street Zen lowered shares of Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

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.