Wells Fargo & Company MN increased its holdings in shares of Mplx Lp (NYSE:MPLX) by 76.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,019,525 shares of the pipeline company’s stock after acquiring an additional 442,448 shares during the period. Wells Fargo & Company MN’s holdings in Mplx were worth $33,532,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tortoise Index Solutions LLC grew its position in Mplx by 110.5% during the 4th quarter. Tortoise Index Solutions LLC now owns 104,242 shares of the pipeline company’s stock worth $3,159,000 after acquiring an additional 54,725 shares during the last quarter. Energy Income Partners LLC lifted its holdings in Mplx by 19.1% during the 4th quarter. Energy Income Partners LLC now owns 1,556,537 shares of the pipeline company’s stock worth $47,163,000 after buying an additional 249,145 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Mplx by 10.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 219,219 shares of the pipeline company’s stock worth $6,642,000 after buying an additional 20,561 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in Mplx during the 4th quarter worth $6,973,000. Finally, Claybrook Capital LLC acquired a new position in Mplx during the 4th quarter worth $109,000. Institutional investors and hedge funds own 30.83% of the company’s stock.
MPLX stock opened at $31.25 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.85 and a current ratio of 0.93. The firm has a market capitalization of $25.06 billion, a PE ratio of 13.65 and a beta of 1.20. Mplx Lp has a twelve month low of $28.32 and a twelve month high of $39.01.
Mplx (NYSE:MPLX) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Mplx had a return on equity of 27.44% and a net margin of 28.57%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 EPS. On average, analysts expect that Mplx Lp will post 2.49 earnings per share for the current fiscal year.
Several research analysts have issued reports on MPLX shares. Bank of America raised Mplx from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Tuesday. Barclays reaffirmed a “buy” rating and set a $38.00 price objective on shares of Mplx in a report on Wednesday, March 13th. Zacks Investment Research raised Mplx from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine raised Mplx from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, BMO Capital Markets started coverage on Mplx in a report on Monday, June 10th. They set a “market perform” rating and a $35.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $38.80.
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Mplx Company Profile
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.
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