Turtle Creek Wealth Advisors LLC Buys 43,360 Shares of Mplx Lp $MPLX

Key Points

• Turtle Creek Wealth Advisors LLC increased its holdings in Mplx Lp by 365.9%, acquiring 43,360 shares in the second quarter, bringing their total to 55,209 shares worth approximately $2.84 million.
• Mplx reported $1.03 EPS for the most recent quarter, falling short of consensus estimates, with a revenue of $2.79 billion, which was below expectations of $3.13 billion.
• According to recent analyst ratings, Mplx has received eight "Buy" ratings, one "Hold," and two "Sell" ratings, with a consensus price target of $55.89.

Turtle Creek Wealth Advisors LLC raised its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 365.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,209 shares of the pipeline company's stock after acquiring an additional 43,360 shares during the quarter. Turtle Creek Wealth Advisors LLC's holdings in Mplx were worth $2,844,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Colonial River Investments LLC raised its holdings in 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 purchasing an additional 200 shares during the period. Axxcess Wealth Management LLC raised its holdings in 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 purchasing an additional 200 shares during the period. Magnus Financial Group LLC raised its holdings in 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 purchasing an additional 215 shares during the period. Fifth Third Bancorp raised its holdings in 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 purchasing an additional 227 shares during the period. Finally, Cherry Creek Investment Advisors Inc. raised its holdings in 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 purchasing an additional 254 shares during the period. 24.25% of the stock is owned by institutional investors.

Mplx Stock Up 0.9%

Shares of MPLX stock opened at $49.37 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40. Mplx Lp has a 1 year low of $43.54 and a 1 year high of $54.87. The firm's fifty day moving average price is $50.17 and its two-hundred day moving average price is $50.61. The firm has a market capitalization of $50.31 billion, a P/E ratio of 11.73, a PEG ratio of 1.33 and a beta of 0.68.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Weiss Ratings lowered shares of Mplx from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, October 8th. Zacks Research lowered shares of Mplx from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Mplx from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company dropped their price objective on shares of Mplx from $60.00 to $59.00 and set an "overweight" rating on the stock in a report on Tuesday, September 23rd. Finally, Barclays raised their price objective on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company 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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