Janney Montgomery Scott LLC Acquires 12,624 Shares of Mplx Lp $MPLX

Janney Montgomery Scott LLC boosted its holdings in Mplx Lp (NYSE:MPLX) by 22.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,888 shares of the pipeline company’s stock after acquiring an additional 12,624 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Mplx were worth $3,548,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position 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 acquiring an additional 15,807 shares in the last quarter. Obermeyer Wealth Partners lifted its holdings in shares of Mplx by 18.4% during the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company’s stock valued at $1,883,000 after buying an additional 5,476 shares during the period. Jump Financial LLC lifted its holdings in shares of Mplx by 349.2% during the 1st quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company’s stock valued at $6,347,000 after buying an additional 92,196 shares during the period. Walnut Private Equity Partners LLC lifted its holdings in shares of Mplx by 14.8% during the 2nd quarter. Walnut Private Equity Partners LLC now owns 242,300 shares of the pipeline company’s stock valued at $12,481,000 after buying an additional 31,300 shares during the period. Finally, Eagle Global Advisors LLC lifted its holdings in shares of Mplx by 2.1% during the 1st quarter. Eagle Global Advisors LLC now owns 1,896,430 shares of the pipeline company’s stock valued at $101,497,000 after buying an additional 39,427 shares during the period. 24.25% of the stock is owned by institutional investors.

Mplx Trading Down 0.5%

Shares of MPLX stock opened at $48.87 on Thursday. Mplx Lp has a 52-week low of $43.53 and a 52-week high of $54.87. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. The firm has a market capitalization of $49.80 billion, a PE ratio of 11.61, a PEG ratio of 1.34 and a beta of 0.68. The stock has a fifty day simple moving average of $50.49 and a two-hundred day simple moving average of $50.79.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MPLX. Weiss Ratings cut Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday. Wells Fargo & Company lowered their price target on Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, September 23rd. 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. 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. Finally, Morgan Stanley increased their price target on Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, August 26th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $55.89.

About Mplx

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.