Bleakley Financial Group LLC Invests $550,000 in Mplx Lp $MPLX

Bleakley Financial Group LLC acquired a new position in shares of Mplx Lp (NYSE:MPLX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,675 shares of the pipeline company’s stock, valued at approximately $550,000.

Other institutional investors have also modified their holdings of the company. Private Wealth Asset Management LLC acquired a new position in shares of Mplx in the 2nd quarter valued at $26,000. Blue Trust Inc. increased its holdings in shares of Mplx by 509.0% in the 2nd quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 509 shares during the period. EQ Wealth Advisors LLC acquired a new position in shares of Mplx in the 2nd quarter valued at $31,000. Rossby Financial LCC acquired a new position in shares of Mplx in the 1st quarter valued at $33,000. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Mplx in the 2nd quarter valued at $39,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MPLX has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Mplx in a report on Saturday. Zacks Research cut shares of Mplx from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 23rd. Stifel Nicolaus boosted their price objective on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Finally, Morgan Stanley boosted their price objective on shares of Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Mplx Price Performance

Shares of NYSE MPLX opened at $50.49 on Monday. The firm has a market capitalization of $51.45 billion, a P/E ratio of 11.99, a PEG ratio of 1.54 and a beta of 0.68. Mplx Lp has a one year low of $43.54 and a one year high of $54.87. The company’s fifty day moving average is $50.11 and its two-hundred day moving average is $50.61. 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 issued its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS 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 analysts’ expectations of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%.Mplx’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 earnings per share. 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.