Mplx Lp $MPLX Shares Purchased by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System increased its stake in Mplx Lp by 6.7%, owning a total of 340,375 shares valued at $17.53 million as of the latest filing.
• Mplx reported earnings of $1.03 per share for the last quarter, missing analysts' expectations of $1.08, as revenues also fell short at $2.79 billion compared to the anticipated $3.13 billion.
• Analysts have mixed views on Mplx, with Barclays raising the price target to $53, while Wall Street Zen downgraded the stock from "buy" to "hold," reflecting varying confidence in the company's performance.

Maryland State Retirement & Pension System boosted its position in Mplx Lp (NYSE:MPLX - Free Report) by 6.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 340,375 shares of the pipeline company's stock after purchasing an additional 21,254 shares during the quarter. Maryland State Retirement & Pension System's holdings in Mplx were worth $17,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MPLX. Capital Investment Advisors LLC raised its stake in Mplx by 37.6% in the 1st quarter. Capital Investment Advisors LLC now owns 8,098 shares of the pipeline company's stock valued at $433,000 after purchasing an additional 2,213 shares during the last quarter. Wesbanco Bank Inc. increased its stake 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 valued at $472,000 after acquiring an additional 1,940 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Mplx by 15.5% during the 1st quarter. Farther Finance Advisors LLC now owns 6,211 shares of the pipeline company's stock valued at $333,000 after acquiring an additional 835 shares during the last quarter. Sonora Investment Management Group LLC increased its stake in shares of Mplx by 22.9% during the 1st quarter. Sonora Investment Management Group LLC now owns 8,042 shares of the pipeline company's stock valued at $430,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of Mplx during the 1st quarter valued at about $214,000. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Stock Down 0.5%

Shares of NYSE:MPLX opened at $48.87 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. Mplx Lp has a 1 year low of $43.53 and a 1 year high of $54.87. The stock has a market capitalization of $49.80 billion, a P/E ratio of 11.61, a PEG ratio of 1.34 and a beta of 0.68. The stock has a 50-day simple moving average of $50.49 and a 200-day simple moving average of $50.79.

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

Analyst Ratings Changes

A number of research analysts have recently commented on MPLX shares. Barclays upped their price objective on shares of 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 shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley upped their price objective on shares of Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 26th. Stifel Nicolaus upped their price objective on shares of Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Finally, Wells Fargo & Company decreased their target price on Mplx from $60.00 to $59.00 and set an "overweight" rating for the company in a report on Tuesday, September 23rd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.89.

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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