Crewe Advisors LLC Buys New Shares in Mplx Lp (NYSE:MPLX)

Crewe Advisors LLC purchased a new stake in shares of Mplx Lp (NYSE:MPLX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 981 shares of the pipeline company’s stock, valued at approximately $41,000.

Other hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its holdings in shares of Mplx by 170.6% in the 4th quarter. Allianz Asset Management GmbH now owns 637,100 shares of the pipeline company’s stock valued at $23,394,000 after buying an additional 401,700 shares during the last quarter. Pingora Partners LLC acquired a new stake in Mplx in the fourth quarter valued at $1,253,000. Miller Howard Investments Inc. NY grew its position in shares of Mplx by 2.8% in the 4th quarter. Miller Howard Investments Inc. NY now owns 2,362,999 shares of the pipeline company’s stock valued at $86,769,000 after acquiring an additional 65,380 shares during the period. Capital Advisors Inc. OK acquired a new position in shares of Mplx during the 4th quarter worth about $2,878,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Mplx in the 1st quarter valued at about $799,000. 24.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MPLX shares. Truist Financial boosted their price target on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Stifel Nicolaus increased their price objective on shares of Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, UBS Group increased their price target on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 12th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $45.75.

Mplx Stock Performance

NYSE:MPLX traded up $0.42 during mid-day trading on Friday, reaching $42.83. 248,615 shares of the company’s stock were exchanged, compared to its average volume of 1,977,248. Mplx Lp has a one year low of $34.32 and a one year high of $43.42. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.67 and a current ratio of 0.72. The business’s fifty day simple moving average is $41.60 and its two-hundred day simple moving average is $40.41. The firm has a market capitalization of $43.52 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. Analysts anticipate that Mplx Lp will post 4.02 earnings per share for the current fiscal year.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.