Prime Capital Investment Advisors LLC Reduces Holdings in MPLX LP $MPLX

Prime Capital Investment Advisors LLC trimmed its stake in MPLX LP (NYSE:MPLX) by 4.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 15,693 shares of the pipeline company’s stock after selling 800 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in MPLX were worth $808,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MPLX. Colonial River Investments LLC increased its position in shares of MPLX by 1.8% during the 1st quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 200 shares during the last quarter. Axxcess Wealth Management LLC grew its position in MPLX by 1.8% during the first quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company’s stock valued at $621,000 after buying an additional 200 shares during the period. Magnus Financial Group LLC grew its position in MPLX by 4.9% during the second quarter. Magnus Financial Group LLC now owns 4,602 shares of the pipeline company’s stock valued at $237,000 after buying an additional 215 shares during the period. Fifth Third Bancorp boosted its stake in shares of MPLX by 7.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,165 shares of the pipeline company’s stock worth $163,000 after acquiring an additional 227 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. boosted its stake in shares of MPLX by 1.8% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company’s stock worth $789,000 after acquiring an additional 254 shares during the last quarter. 24.25% of the stock is owned by institutional investors.

MPLX Stock Performance

MPLX opened at $48.26 on Friday. The company has a fifty day moving average of $50.41 and a 200 day moving average of $50.75. MPLX LP has a fifty-two week low of $43.54 and a fifty-two week high of $54.87. The stock has a market capitalization of $49.18 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.32 and a beta of 0.68. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03.

MPLX (NYSE:MPLX) last released its quarterly earnings data on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05). The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. MPLX had a net margin of 35.44% and a return on equity of 30.95%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $1.15 EPS. As a group, sell-side analysts forecast that MPLX LP will post 4.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley raised their target price on MPLX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 26th. Barclays boosted their price objective on MPLX from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Weiss Ratings downgraded shares of MPLX from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday. Wells Fargo & Company lowered their price target 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, Wall Street Zen downgraded shares of MPLX from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.89.

MPLX 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.