Applied Capital LLC FL Has $1.09 Million Stock Holdings in MPLX LP $MPLX

Applied Capital LLC FL grew its stake in shares of MPLX LP (NYSE:MPLX) by 20.4% in the second quarter, HoldingsChannel.com reports. The fund owned 21,150 shares of the pipeline company’s stock after acquiring an additional 3,580 shares during the quarter. Applied Capital LLC FL’s holdings in MPLX were worth $1,089,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its position in MPLX by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company’s stock worth $5,833,000 after purchasing an additional 15,807 shares during the period. Obermeyer Wealth Partners lifted its holdings in shares of MPLX by 18.4% during the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company’s stock worth $1,883,000 after acquiring an additional 5,476 shares during the period. Jump Financial LLC lifted its holdings in shares of MPLX by 349.2% during the 1st quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company’s stock worth $6,347,000 after acquiring an additional 92,196 shares during the period. Walnut Private Equity Partners LLC boosted its position in shares of MPLX by 14.8% during the 2nd quarter. Walnut Private Equity Partners LLC now owns 242,300 shares of the pipeline company’s stock worth $12,481,000 after acquiring an additional 31,300 shares in the last quarter. Finally, Hilltop National Bank bought a new position in MPLX in the second quarter valued at approximately $330,000. Institutional investors own 24.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MPLX. Morgan Stanley upped their target price on MPLX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 26th. Stifel Nicolaus upped their price objective on MPLX from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Wells Fargo & Company reduced their price objective on MPLX from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 23rd. Weiss Ratings downgraded MPLX from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday. Finally, Zacks Research downgraded shares of MPLX from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.89.

MPLX Price Performance

Shares of MPLX opened at $47.87 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. The stock has a market cap of $48.78 billion, a PE ratio of 11.37, a PEG ratio of 1.31 and a beta of 0.68. MPLX LP has a 12-month low of $43.54 and a 12-month high of $54.87. The business has a 50-day simple moving average of $50.33 and a two-hundred day simple moving average of $50.71.

MPLX (NYSE:MPLX) last announced its quarterly 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 firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.13 billion. MPLX had a net margin of 35.44% and a return on equity of 30.95%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 earnings per share. Analysts anticipate that MPLX LP will post 4.41 earnings per share for the current fiscal 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.