Keudell Morrison Wealth Management Buys New Shares in Mplx Lp $MPLX

Keudell Morrison Wealth Management bought a new stake in Mplx Lp (NYSE:MPLX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,500 shares of the pipeline company’s stock, valued at approximately $335,000.

A number of other institutional investors have also recently bought and sold shares of MPLX. NBC Securities Inc. grew its holdings in Mplx by 112,300.0% in the first quarter. NBC Securities Inc. now owns 4,496 shares of the pipeline company’s stock valued at $240,000 after purchasing an additional 4,492 shares during the period. Magnus Financial Group LLC purchased a new stake in Mplx in the first quarter valued at approximately $235,000. Princeton Global Asset Management LLC grew its holdings in Mplx by 5.8% in the first quarter. Princeton Global Asset Management LLC now owns 11,898 shares of the pipeline company’s stock valued at $637,000 after purchasing an additional 651 shares during the period. Capital Investment Advisors LLC grew its holdings in Mplx by 37.6% in the first quarter. Capital Investment Advisors LLC now owns 8,098 shares of the pipeline company’s stock valued at $433,000 after purchasing an additional 2,213 shares during the period. Finally, Wesbanco Bank Inc. grew its holdings in Mplx by 28.2% in the first quarter. Wesbanco Bank Inc. now owns 8,819 shares of the pipeline company’s stock valued at $472,000 after purchasing an additional 1,940 shares during the period. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Price Performance

MPLX stock opened at $49.63 on Friday. 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 Lp has a 1 year low of $43.53 and a 1 year high of $54.87. The firm has a market cap of $50.58 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 1.34 and a beta of 0.68. The stock has a 50-day simple moving average of $50.65 and a 200-day simple moving average of $50.87.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (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 company 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 EPS. Mplx’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MPLX has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their target price on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Barclays lifted their target price on shares of Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Morgan Stanley upped their price target on shares of Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 26th. Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.89.

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.