TrueMark Investments LLC Acquires 12,233 Shares of Mplx Lp $MPLX

Key Points

• TrueMark Investments LLC increased its stake in Mplx Lp by 8.8%, acquiring an additional 12,233 shares, bringing their total holdings to 150,684 shares worth approximately $7.76 million.
• Institutional investors and hedge funds collectively own 24.25% of Mplx's stock, reflecting active interest from various investment firms.
• Analysts have differing views on Mplx, with price targets ranging from $57.00 to $60.00, while eight analysts rate the stock as a "Buy" and one as a "Sell."

TrueMark Investments LLC grew its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,684 shares of the pipeline company's stock after purchasing an additional 12,233 shares during the period. Mplx comprises 1.7% of TrueMark Investments LLC's holdings, making the stock its 9th largest holding. TrueMark Investments LLC's holdings in Mplx were worth $7,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MPLX. Kingstone Capital Partners Texas LLC acquired a new position in shares of Mplx during the 2nd quarter worth approximately $776,894,000. Kayne Anderson Capital Advisors LP boosted its position in shares of Mplx by 38.2% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company's stock worth $416,817,000 after acquiring an additional 2,153,490 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Mplx by 14.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company's stock worth $270,060,000 after acquiring an additional 654,489 shares in the last quarter. Northside Capital Management LLC acquired a new stake in shares of Mplx during the 2nd quarter worth approximately $30,497,000. Finally, Neuberger Berman Group LLC boosted its position in shares of Mplx by 54.8% during the 1st quarter. Neuberger Berman Group LLC now owns 996,777 shares of the pipeline company's stock worth $53,348,000 after acquiring an additional 352,782 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MPLX shares. Stifel Nicolaus increased their price target on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Wells Fargo & Company reduced their price target 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. Morgan Stanley increased their price target on shares of Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 26th. Weiss Ratings lowered shares of Mplx from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Mplx from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.50.

Mplx Stock Performance

Shares of Mplx stock opened at $49.01 on Friday. Mplx Lp has a fifty-two week low of $43.54 and a fifty-two week high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. The firm has a market capitalization of $49.94 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.33 and a beta of 0.68. The company's 50 day moving average price is $50.08 and its two-hundred day moving average price is $50.52.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). Mplx had a net margin of 35.44% and a return on equity of 30.95%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the business earned $1.15 EPS. The business's quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast 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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