Mplx Lp $MPLX Shares Purchased by Tectonic Advisors LLC

Key Points

• Tectonic Advisors LLC increased its stake in Mplx Lp by 6.2% in the second quarter, now holding 224,763 shares valued at approximately $11.58 million.
• Mplx's recent performance includes a quarterly earnings report showing a missed EPS estimate of $1.03 compared to the consensus of $1.08, with revenues down 1.6% year-over-year.
• Analysts have mixed ratings on Mplx, with eight recommending a buy, while recent reports have adjusted price targets, with an average target of $55.89.

Tectonic Advisors LLC boosted its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 224,763 shares of the pipeline company's stock after purchasing an additional 13,168 shares during the quarter. Tectonic Advisors LLC's holdings in Mplx were worth $11,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Colonial River Investments LLC boosted its position in shares of Mplx by 1.8% in the first quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock worth $621,000 after buying an additional 200 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of Mplx by 1.8% in the first quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company's stock worth $621,000 after buying an additional 200 shares during the period. Magnus Financial Group LLC boosted its position in shares of Mplx by 4.9% in the second quarter. Magnus Financial Group LLC now owns 4,602 shares of the pipeline company's stock worth $237,000 after buying an additional 215 shares during the period. Fifth Third Bancorp boosted its position in shares of Mplx by 7.7% in the second quarter. Fifth Third Bancorp now owns 3,165 shares of the pipeline company's stock worth $163,000 after buying an additional 227 shares during the period. Finally, Cherry Creek Investment Advisors Inc. boosted its position in shares of Mplx by 1.8% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company's stock worth $789,000 after buying an additional 254 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MPLX has been the subject of several analyst reports. 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 research report on Tuesday, September 23rd. Weiss Ratings downgraded Mplx from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday. Wall Street Zen downgraded Mplx from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Stifel Nicolaus increased their price target on Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Finally, Barclays increased 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. Eight equities research 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 currently has an average rating of "Moderate Buy" and a consensus price target of $55.89.

Mplx Trading Down 0.5%

Shares of NYSE MPLX opened at $48.87 on Thursday. The stock's 50 day moving average price is $50.49 and its two-hundred day moving average price is $50.79. Mplx Lp has a 52-week low of $43.53 and a 52-week 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 company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data 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 net margin of 35.44% and a return on equity of 30.95%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company earned $1.15 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal 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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