Burford Brothers Inc. Takes $609,000 Position in Mplx Lp $MPLX

Burford Brothers Inc. purchased a new position in shares of Mplx Lp (NYSE:MPLX) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 11,828 shares of the pipeline company’s stock, valued at approximately $609,000.

Several other large investors have also recently made changes to their positions in MPLX. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Mplx during the second quarter worth approximately $776,894,000. Kayne Anderson Capital Advisors LP increased its position in shares of Mplx by 38.2% during the first quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company’s stock worth $416,817,000 after purchasing an additional 2,153,490 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Mplx by 14.9% during the first quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company’s stock worth $270,060,000 after purchasing an additional 654,489 shares in the last quarter. Northside Capital Management LLC acquired a new position in Mplx during the second quarter worth $30,497,000. Finally, Neuberger Berman Group LLC boosted its stake in Mplx by 54.8% during the first quarter. Neuberger Berman Group LLC now owns 996,777 shares of the pipeline company’s stock worth $53,348,000 after buying an additional 352,782 shares during the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MPLX. Weiss Ratings lowered Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 26th. Zacks Research lowered Mplx from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Stifel Nicolaus boosted their price objective on Mplx from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 14th. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

Mplx Price Performance

Shares of NYSE MPLX opened at $49.01 on Friday. The stock’s 50-day moving average is $50.08 and its two-hundred day moving average is $50.52. 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 Lp has a 1-year low of $43.54 and a 1-year high of $54.87. The company has a market cap of $49.94 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.33 and a beta of 0.68.

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