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

Private Wealth Asset Management LLC bought a new stake in shares of Mplx Lp (NYSE:MPLX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 500 shares of the pipeline company’s stock, valued at approximately $26,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC purchased a new position in Mplx during the 2nd quarter valued at about $776,894,000. Goldman Sachs Group Inc. grew its position in shares of Mplx by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company’s stock worth $730,506,000 after buying an additional 83,392 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position 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 buying an additional 2,153,490 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Mplx by 0.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,456 shares of the pipeline company’s stock worth $372,256,000 after buying an additional 50,979 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position 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 buying an additional 654,489 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Stock Down 1.6%

MPLX stock opened at $48.51 on Friday. The firm has a 50 day moving average of $50.11 and a 200 day moving average of $50.58. The stock has a market capitalization of $49.44 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.34 and a beta of 0.68. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. Mplx Lp has a 52 week low of $43.54 and a 52 week high of $54.87.

Mplx (NYSE:MPLX) last released 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 company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%.The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $1.15 earnings per share. Sell-side analysts forecast that Mplx Lp will post 4.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Weiss Ratings downgraded shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their price objective on shares of Mplx from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Wall Street Zen downgraded shares of Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, 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 research note on Tuesday, September 23rd. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.