Hilltop National Bank Makes New Investment in Mplx Lp $MPLX

Key Points

• Hilltop National Bank has acquired 6,400 shares of MPLX LP, valued at approximately $330,000, marking a new investment in the pipeline company.
• Multiple institutional investors have increased their stakes in MPLX, with notable increases including a 23.8% rise from Requisite Capital Management LLC.
• MPLX's latest earnings report showed a miss on earnings per share expectations, reporting $1.03 compared to the estimated $1.08, alongside a revenue drop of 1.6% year-over-year.

Hilltop National Bank acquired a new position in shares of Mplx Lp (NYSE:MPLX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,400 shares of the pipeline company's stock, valued at approximately $330,000.

Other large investors have also modified their holdings of the company. Childress Capital Advisors LLC lifted its position in shares of Mplx by 2.7% during the 2nd quarter. Childress Capital Advisors LLC now owns 68,641 shares of the pipeline company's stock worth $3,536,000 after purchasing an additional 1,800 shares during the last quarter. PFG Investments LLC lifted its position in shares of Mplx by 4.5% during the 2nd quarter. PFG Investments LLC now owns 39,502 shares of the pipeline company's stock worth $2,035,000 after purchasing an additional 1,703 shares during the last quarter. Requisite Capital Management LLC lifted its position in shares of Mplx by 23.8% during the 2nd quarter. Requisite Capital Management LLC now owns 8,698 shares of the pipeline company's stock worth $448,000 after purchasing an additional 1,674 shares during the last quarter. C2C Wealth Management LLC lifted its position in shares of Mplx by 1.5% during the 2nd quarter. C2C Wealth Management LLC now owns 20,421 shares of the pipeline company's stock worth $1,052,000 after purchasing an additional 300 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in Mplx by 3.3% in the 2nd quarter. Capital Investment Advisors LLC now owns 8,367 shares of the pipeline company's stock valued at $431,000 after acquiring an additional 269 shares in the last quarter. 24.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MPLX. Morgan Stanley increased their price objective on Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. Wall Street Zen lowered Mplx from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company cut their price target on Mplx from $60.00 to $59.00 and set an "overweight" rating on the stock in a report on Tuesday, September 23rd. Barclays boosted their price target on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Weiss Ratings reiterated a "buy (a-)" rating on shares of Mplx in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Mplx has an average rating of "Moderate Buy" and a consensus price target of $55.89.

Mplx Price Performance

Shares of NYSE MPLX opened at $49.63 on Friday. The business's 50 day moving average price is $50.65 and its two-hundred day moving average price is $50.89. The company has a market cap of $50.58 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.34 and a beta of 0.68. 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 twelve month low of $43.53 and a twelve month high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) 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). The business had revenue of $2.79 billion for 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%.Mplx's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.15 EPS. On average, analysts predict that Mplx Lp will post 4.41 EPS for the current year.

Mplx Company 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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