Axxcess Wealth Management LLC Has $577,000 Holdings in Mplx Lp $MPLX

Axxcess Wealth Management LLC cut its holdings in shares of Mplx Lp (NYSE:MPLX) by 3.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,202 shares of the pipeline company’s stock after selling 401 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Mplx were worth $577,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MPLX. Blue Trust Inc. boosted its position in Mplx by 509.0% during the 2nd quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 509 shares during the period. Rossby Financial LCC purchased a new position in Mplx in the first quarter valued at about $33,000. JFS Wealth Advisors LLC purchased a new position in Mplx in the first quarter valued at about $37,000. Trust Co. of Toledo NA OH purchased a new position in Mplx in the second quarter valued at about $39,000. Finally, Wealth Preservation Advisors LLC purchased a new position in Mplx in the first quarter valued at about $44,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MPLX has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. Stifel Nicolaus boosted their target price on Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Zacks Research downgraded Mplx from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their price target on Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, September 23rd. Finally, Wall Street Zen downgraded Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. 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 MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Mplx Stock Performance

MPLX opened at $49.01 on Friday. The company has a market cap of $49.94 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.32 and a beta of 0.68. The stock has a 50-day moving average of $50.08 and a 200-day moving average of $50.55. Mplx Lp has a 52-week low of $43.54 and a 52-week high of $54.87. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03.

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

Mplx 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.