Apollon Wealth Management LLC Sells 312 Shares of Mplx Lp $MPLX

Apollon Wealth Management LLC reduced its stake in shares of Mplx Lp (NYSE:MPLX) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,682 shares of the pipeline company’s stock after selling 312 shares during the period. Apollon Wealth Management LLC’s holdings in Mplx were worth $1,735,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Colonial River Investments LLC lifted its position in shares of Mplx by 1.8% during the 1st quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company’s stock valued at $621,000 after buying an additional 200 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Mplx by 1.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company’s stock valued at $621,000 after buying an additional 200 shares in the last quarter. Magnus Financial Group LLC lifted its position in shares of Mplx by 4.9% during the 2nd quarter. Magnus Financial Group LLC now owns 4,602 shares of the pipeline company’s stock valued at $237,000 after buying an additional 215 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Mplx by 7.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,165 shares of the pipeline company’s stock valued at $163,000 after buying an additional 227 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. lifted its position in shares of Mplx by 1.8% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company’s stock valued at $789,000 after buying an additional 254 shares in the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MPLX. Stifel Nicolaus boosted their price target on Mplx from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. Weiss Ratings cut Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, October 8th. Barclays boosted their price target on Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company decreased their price objective on Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, September 23rd. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and a consensus price target of $55.89.

Mplx Stock Performance

NYSE MPLX opened at $48.64 on Tuesday. The company has a market cap of $49.56 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.30 and a beta of 0.68. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. The business’s 50 day moving average price is $50.25 and its 200-day moving average price is $50.63. Mplx Lp has a fifty-two week low of $43.54 and a fifty-two week high of $54.87.

Mplx (NYSE:MPLX) last released its 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 the consensus estimate 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 prior year, the firm posted $1.15 EPS. Sell-side analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

About Mplx

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.