Nova R Wealth Inc. Sells 341 Shares of Mplx Lp $MPLX

Nova R Wealth Inc. lowered its holdings in Mplx Lp (NYSE:MPLX) by 6.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,691 shares of the pipeline company’s stock after selling 341 shares during the quarter. Nova R Wealth Inc.’s holdings in Mplx were worth $242,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MPLX. GraniteShares Advisors LLC increased its holdings in shares of Mplx by 6.7% during the 2nd quarter. GraniteShares Advisors LLC now owns 58,413 shares of the pipeline company’s stock worth $3,009,000 after purchasing an additional 3,652 shares during the period. MinichMacGregor Wealth Management LLC bought a new position in Mplx during the second quarter valued at about $219,000. Eagle Global Advisors LLC raised its holdings in Mplx by 1.2% in the 2nd quarter. Eagle Global Advisors LLC now owns 1,919,565 shares of the pipeline company’s stock valued at $98,877,000 after acquiring an additional 23,135 shares in the last quarter. Magnus Financial Group LLC grew its holdings in shares of Mplx by 4.9% during the 2nd quarter. Magnus Financial Group LLC now owns 4,602 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 215 shares in the last quarter. Finally, Northside Capital Management LLC bought a new stake in shares of Mplx during the second quarter valued at approximately $30,497,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPLX has been the subject of several research reports. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Stifel Nicolaus lifted their target price on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Wells Fargo & Company dropped their price target on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, September 23rd. Morgan Stanley raised their price target on shares of Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 26th. Finally, Barclays lifted their price objective on Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.89.

Mplx Trading Down 0.2%

Shares of MPLX opened at $51.27 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. The company has a market cap of $52.25 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.39 and a beta of 0.74. The stock has a fifty day moving average price of $50.75 and a two-hundred day moving average price of $51.00. Mplx Lp has a 52-week low of $43.53 and a 52-week high of $54.87.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share 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 analyst estimates of $3.13 billion. During the same quarter last year, the business posted $1.15 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts predict 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.