Mainstay Capital Management LLC ADV Makes New Investment in Mplx Lp $MPLX

Key Points

• Mainstay Capital Management LLC ADV has acquired a new position in Mplx Lp, purchasing 5,548 shares valued at approximately $286,000.
• Mplx reported $1.03 earnings per share (EPS) for the last quarter, missing the consensus estimate, with revenue down 1.6% from the previous year.
• The stock has an analyst consensus rating of "Moderate Buy" with a target price of $55.89, indicating potential upside in the near future.

Mainstay Capital Management LLC ADV purchased a new position in Mplx Lp (NYSE:MPLX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,548 shares of the pipeline company's stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPLX. Rossby Financial LCC acquired a new position in shares of Mplx in the 1st quarter worth approximately $33,000. JFS Wealth Advisors LLC acquired a new position in shares of Mplx in the 1st quarter worth approximately $37,000. Wealth Preservation Advisors LLC acquired a new position in shares of Mplx in the 1st quarter worth approximately $44,000. MorganRosel Wealth Management LLC acquired a new position in shares of Mplx in the 1st quarter worth approximately $48,000. Finally, PSI Advisors LLC lifted its position in shares of Mplx by 32.5% in the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Stock Performance

Shares of MPLX stock opened at $48.26 on Friday. Mplx Lp has a 12 month low of $43.54 and a 12 month high of $54.87. 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 has a market capitalization of $49.18 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.32 and a beta of 0.68. The firm has a fifty day simple moving average of $50.41 and a two-hundred day simple moving average of $50.75.

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

Analyst Upgrades and Downgrades

MPLX has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Mplx from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday. Barclays boosted their price target on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Stifel Nicolaus boosted their target price on shares of Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Wells Fargo & Company dropped their target price 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. Finally, Wall Street Zen downgraded shares of Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $55.89.

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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