Greenup Street Wealth Management LLC Increases Stock Holdings in Mplx Lp $MPLX

Greenup Street Wealth Management LLC increased its holdings in shares of Mplx Lp (NYSE:MPLX) by 2.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 58,278 shares of the pipeline company’s stock after purchasing an additional 1,659 shares during the period. Greenup Street Wealth Management LLC’s holdings in Mplx were worth $3,002,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Wealth Asset Management LLC purchased a new position in Mplx during the 2nd quarter worth $26,000. EQ Wealth Advisors LLC purchased a new position in Mplx during the 2nd quarter worth $31,000. Blue Trust Inc. grew its stake in Mplx by 509.0% during the 2nd quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock worth $31,000 after buying an additional 509 shares during the last quarter. Rossby Financial LCC purchased a new position in Mplx during the 1st quarter worth $33,000. Finally, JFS Wealth Advisors LLC purchased a new position in Mplx during the 1st quarter worth $37,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MPLX. Morgan Stanley boosted their price target on Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. Barclays boosted their price target on Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Wall Street Zen downgraded Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company dropped their price target on Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 23rd. Finally, Zacks Research downgraded Mplx from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Eight equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

Mplx Stock Performance

Shares of MPLX stock opened at $49.63 on Tuesday. The stock has a market cap of $50.58 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.33 and a beta of 0.68. The business has a 50-day simple moving average of $50.07 and a 200-day simple moving average of $50.52. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. Mplx Lp has a 52-week low of $43.54 and a 52-week high of $54.87.

Mplx (NYSE:MPLX) last released 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). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%.The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. On average, equities analysts expect that Mplx Lp will post 4.41 EPS for the current year.

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.