Jennison Associates LLC Lowers Stock Holdings in Mplx Lp (NYSE:MPLX)

Jennison Associates LLC reduced its stake in Mplx Lp (NYSE:MPLX) by 1.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,437,041 shares of the pipeline company’s stock after selling 14,051 shares during the period. Jennison Associates LLC’s holdings in Mplx were worth $52,768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of MPLX. JFS Wealth Advisors LLC acquired a new stake in shares of Mplx in the 3rd quarter valued at approximately $33,000. PSI Advisors LLC lifted its holdings in shares of Mplx by 63.6% in the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after buying an additional 350 shares during the period. HBC Financial Services PLLC acquired a new stake in shares of Mplx in the 4th quarter valued at approximately $36,000. Fortitude Family Office LLC acquired a new stake in shares of Mplx in the 4th quarter valued at approximately $41,000. Finally, Rational Advisors LLC acquired a new stake in shares of Mplx in the 3rd quarter valued at approximately $43,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MPLX shares. UBS Group lifted their price objective on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Raymond James lifted their price objective on Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Barclays lifted their price objective on Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Royal Bank of Canada lifted their price objective on Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.86.

Mplx Stock Performance

NYSE MPLX opened at $41.49 on Wednesday. Mplx Lp has a fifty-two week low of $33.12 and a fifty-two week high of $42.89. The stock has a market cap of $41.93 billion, a price-to-earnings ratio of 10.89 and a beta of 1.35. The business has a fifty day moving average of $40.41 and a 200-day moving average of $37.89. The company has a quick ratio of 1.01, a current ratio of 1.07 and a debt-to-equity ratio of 1.52.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, January 30th. The pipeline company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Mplx had a return on equity of 31.85% and a net margin of 34.82%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts predict that Mplx Lp will post 4.11 earnings per share for the current fiscal year.

Mplx Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. 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; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.