Mplx Lp $MPLX Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its holdings in Mplx Lp by 8.7% during the second quarter, now owning 61,114 shares valued at approximately $3.15 million.
• Mplx's recent earnings report revealed an EPS of $1.03, missing expectations, with revenues recorded at $2.79 billion, falling short of the $3.13 billion forecast.
• Analysts currently hold a consensus rating of "Moderate Buy" for MPLX, with eight "Buy" ratings, one "Hold," and two "Sell" ratings, along with an average price target of $55.89.

US Bancorp DE trimmed its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,114 shares of the pipeline company's stock after selling 5,824 shares during the quarter. US Bancorp DE's holdings in Mplx were worth $3,148,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MPLX. Farther Finance Advisors LLC raised 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 worth $333,000 after buying an additional 835 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Mplx by 17.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company's stock valued at $5,833,000 after buying an additional 15,807 shares in the last quarter. Mission Wealth Management LP purchased a new position in Mplx in the 1st quarter valued at about $214,000. Janney Montgomery Scott LLC lifted its stake in Mplx by 8.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 56,264 shares of the pipeline company's stock valued at $3,011,000 after buying an additional 4,169 shares in the last quarter. Finally, Inscription Capital LLC purchased a new position in Mplx in the 1st quarter valued at about $1,478,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Up 0.9%

Shares of MPLX opened at $49.04 on Wednesday. Mplx Lp has a 52-week low of $43.54 and a 52-week high of $54.87. The company has a market capitalization of $49.97 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.32 and a beta of 0.68. The stock has a fifty day simple moving average of $50.21 and a two-hundred day simple moving average of $50.62. 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 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 analyst estimates of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%.The firm's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 EPS. As a group, equities analysts forecast that Mplx Lp will post 4.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Mplx from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, October 8th. Zacks Research lowered Mplx from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price objective on Mplx from $60.00 to $59.00 and set an "overweight" rating on the stock in a report on Tuesday, September 23rd. Morgan Stanley raised their price objective on Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, August 26th. Finally, Barclays raised their price objective on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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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