Kercheville Advisors LLC Has $6.95 Million Stock Holdings in MPLX LP $MPLX

Key Points

• Kercheville Advisors LLC has reduced its holdings in MPLX LP by 20.8% during Q2, holding 134,897 shares valued at approximately $6.95 million, which constitutes 2.4% of its portfolio.
• Multiple institutional investors have increased their positions in MPLX, with NBC Securities Inc. raising its stake by an astonishing 112,300.0% in the first quarter.
• MPLX reported earnings of $1.03 per share, missing estimates, with revenue of $2.79 billion for the last quarter, down 1.6% year-over-year.

Kercheville Advisors LLC lessened its position in MPLX LP (NYSE:MPLX - Free Report) by 20.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,897 shares of the pipeline company's stock after selling 35,366 shares during the quarter. MPLX makes up about 2.4% of Kercheville Advisors LLC's portfolio, making the stock its 16th biggest position. Kercheville Advisors LLC's holdings in MPLX were worth $6,949,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MPLX. NBC Securities Inc. raised its position in MPLX by 112,300.0% in the 1st quarter. NBC Securities Inc. now owns 4,496 shares of the pipeline company's stock valued at $240,000 after buying an additional 4,492 shares during the last quarter. Magnus Financial Group LLC acquired a new stake in MPLX in the 1st quarter valued at approximately $235,000. Princeton Global Asset Management LLC increased its position in shares of MPLX by 5.8% during the 1st quarter. Princeton Global Asset Management LLC now owns 11,898 shares of the pipeline company's stock worth $637,000 after purchasing an additional 651 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of MPLX by 37.6% during the 1st quarter. Capital Investment Advisors LLC now owns 8,098 shares of the pipeline company's stock worth $433,000 after purchasing an additional 2,213 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its position in shares of MPLX by 28.2% during the 1st quarter. Wesbanco Bank Inc. now owns 8,819 shares of the pipeline company's stock worth $472,000 after purchasing an additional 1,940 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on MPLX from $57.00 to $60.00 and gave the stock 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 research report on Saturday, August 2nd. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of MPLX in a research report on Saturday, September 27th. Stifel Nicolaus boosted their price target on MPLX from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Finally, Barclays boosted their price target on MPLX from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MPLX has an average rating of "Moderate Buy" and an average price target of $55.89.

MPLX Stock Performance

Shares of NYSE MPLX opened at $49.63 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. MPLX LP has a 12 month low of $43.53 and a 12 month high of $54.87. The stock has a 50 day moving average of $50.65 and a 200-day moving average of $50.87. The company has a market capitalization of $50.58 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.34 and a beta of 0.68.

MPLX (NYSE:MPLX - Get Free Report) last issued its 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). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. MPLX had a return on equity of 30.95% and a net margin of 35.44%.The business's revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 earnings per share. As a group, equities research analysts predict 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.

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