Griffin Asset Management Inc. Has $628,000 Stake in Mplx Lp $MPLX

Griffin Asset Management Inc. decreased its holdings in shares of Mplx Lp (NYSE:MPLX) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,192 shares of the pipeline company’s stock after selling 560 shares during the quarter. Griffin Asset Management Inc.’s holdings in Mplx were worth $628,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Colonial River Investments LLC grew its holdings in Mplx by 1.8% during the first quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 200 shares during the period. Axxcess Wealth Management LLC grew its holdings in Mplx by 1.8% during the first quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 200 shares during the period. Magnus Financial Group LLC grew its holdings in Mplx by 4.9% during the second quarter. Magnus Financial Group LLC now owns 4,602 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 215 shares during the period. Fifth Third Bancorp grew its holdings in Mplx by 7.7% during the second quarter. Fifth Third Bancorp now owns 3,165 shares of the pipeline company’s stock valued at $163,000 after purchasing an additional 227 shares during the period. Finally, Cherry Creek Investment Advisors Inc. grew its holdings in Mplx by 1.8% during the first quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company’s stock valued at $789,000 after purchasing an additional 254 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Performance

Shares of MPLX opened at $47.87 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. Mplx Lp has a twelve month low of $43.54 and a twelve month high of $54.87. The firm’s 50 day moving average price is $50.33 and its two-hundred day moving average price is $50.67. The firm has a market cap of $48.78 billion, a P/E ratio of 11.37, a PEG ratio of 1.30 and a beta of 0.68.

Mplx (NYSE:MPLX) last announced its quarterly 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 company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm posted $1.15 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on MPLX. Wells Fargo & Company decreased their price objective on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, September 23rd. Barclays boosted their price objective on shares of Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 11th. 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 report on Thursday, August 14th. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings lowered shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.89.

Mplx 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.