Allianz Asset Management GmbH Has $52.30 Million Holdings in Mplx Lp $MPLX

Key Points

• Allianz Asset Management GmbH reduced its holdings in Mplx LP by 20.4% during the second quarter, owning 1,015,300 shares worth approximately $52.30 million after selling 259,900 shares.
• Mplx reported second-quarter earnings of $1.03 per share, missing estimates, with revenue of $2.79 billion, down 1.6% from the previous year.
• Analysts have mixed ratings on Mplx, with a consensus rating of "Moderate Buy" and a target price of $57.50, while Stifel Nicolaus increased their price objective to $60.00.

Allianz Asset Management GmbH lessened its stake in Mplx Lp (NYSE:MPLX - Free Report) by 20.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,015,300 shares of the pipeline company's stock after selling 259,900 shares during the quarter. Allianz Asset Management GmbH owned 0.10% of Mplx worth $52,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Wealth Asset Management LLC acquired a new position in shares of Mplx in the second quarter valued at approximately $26,000. Blue Trust Inc. boosted 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 buying an additional 509 shares during the period. EQ Wealth Advisors LLC bought a new stake in shares of Mplx in the second quarter worth $31,000. Rossby Financial LCC bought a new stake in shares of Mplx in the first quarter worth $33,000. Finally, JFS Wealth Advisors LLC bought a new stake in shares of Mplx in the first quarter worth $37,000. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Stock Performance

NYSE MPLX opened at $49.01 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40. The firm's fifty day moving average price is $50.08 and its two-hundred day moving average price is $50.55. Mplx Lp has a 1 year low of $43.54 and a 1 year high of $54.87. The firm has a market capitalization of $49.94 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.32 and a beta of 0.68.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The company 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%. Mplx'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 earned $1.15 earnings per share. As a group, research analysts anticipate that Mplx Lp will post 4.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MPLX shares. Stifel Nicolaus boosted their price objective on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Wells Fargo & Company cut their price objective on shares of Mplx from $60.00 to $59.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 23rd. Weiss Ratings lowered shares of Mplx from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, October 8th. Morgan Stanley boosted their price objective 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. Finally, Zacks Research lowered shares of Mplx from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.

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.

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