Carnegie Investment Counsel Has $461,000 Stock Holdings in Mplx Lp $MPLX

Carnegie Investment Counsel boosted its position in shares of Mplx Lp (NYSE:MPLX) by 10.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,948 shares of the pipeline company’s stock after acquiring an additional 819 shares during the period. Carnegie Investment Counsel’s holdings in Mplx were worth $461,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Obermeyer Wealth Partners raised its holdings in Mplx by 18.4% in the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company’s stock valued at $1,883,000 after acquiring an additional 5,476 shares in the last quarter. Jump Financial LLC grew its stake in shares of Mplx by 349.2% in the 1st quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company’s stock valued at $6,347,000 after purchasing an additional 92,196 shares during the period. Walnut Private Equity Partners LLC grew its stake in shares of Mplx by 14.8% in the 2nd quarter. Walnut Private Equity Partners LLC now owns 242,300 shares of the pipeline company’s stock valued at $12,481,000 after purchasing an additional 31,300 shares during the period. Hilltop National Bank bought a new stake in shares of Mplx in the 2nd quarter valued at approximately $330,000. Finally, Keudell Morrison Wealth Management bought a new stake in shares of Mplx in the 2nd quarter valued at approximately $335,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Performance

Shares of Mplx stock opened at $50.49 on Monday. The firm has a market cap of $51.45 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.54 and a beta of 0.68. The stock’s 50-day moving average is $50.11 and its 200-day moving average is $50.61. Mplx Lp has a one year low of $43.54 and a one year high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97.

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

Analyst Ratings Changes

A number of research firms recently weighed in on MPLX. Wells Fargo & Company dropped their price target on Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, September 23rd. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Morgan Stanley lifted their price objective on Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 26th. Barclays lifted their price objective on Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, Stifel Nicolaus lifted their target price on Mplx from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus 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.