Catalyst Capital Advisors LLC Increases Stock Position in Mplx Lp $MPLX

Catalyst Capital Advisors LLC raised its holdings in Mplx Lp (NYSE:MPLX) by 4.2% during the 2nd quarter, Holdings Channel reports. The firm owned 364,486 shares of the pipeline company’s stock after purchasing an additional 14,524 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Mplx were worth $18,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Private Wealth Asset Management LLC purchased a new stake in shares of Mplx in the second quarter valued at about $26,000. EQ Wealth Advisors LLC purchased a new stake in shares of Mplx in the second quarter valued at about $31,000. Blue Trust Inc. lifted its holdings in shares of Mplx by 509.0% in the second quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 509 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Mplx in the first quarter valued at about $33,000. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of Mplx in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Stock Performance

Shares of MPLX opened at $50.85 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. The company has a market capitalization of $51.81 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.53 and a beta of 0.68. The company’s 50 day simple moving average is $50.10 and its 200 day simple moving average is $50.54. Mplx Lp has a 1 year low of $43.54 and a 1 year high of $54.87.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05). Mplx had a return on equity of 30.95% and a net margin of 35.44%.The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company posted $1.15 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts predict that Mplx Lp will post 4.41 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on MPLX shares. Weiss Ratings downgraded shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, October 8th. Stifel Nicolaus upped their price objective on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Morgan Stanley upped their price objective on shares of Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. Barclays upped their price objective on shares of Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Wall Street Zen downgraded shares of Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Mplx presently has an average rating of “Moderate Buy” and an average price target of $57.50.

About Mplx

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.