Infrastructure Capital Advisors LLC Increases Position in Mplx Lp $MPLX

Infrastructure Capital Advisors LLC increased its holdings in shares of Mplx Lp (NYSE:MPLX) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,068,251 shares of the pipeline company’s stock after purchasing an additional 30,267 shares during the period. Mplx makes up about 4.2% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 5th biggest position. Infrastructure Capital Advisors LLC owned 0.11% of Mplx worth $60,965,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Mplx by 0.7% during the 3rd quarter. Invesco Ltd. now owns 19,561,938 shares of the pipeline company’s stock worth $977,119,000 after buying an additional 143,361 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Mplx by 8.3% in the 2nd quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after acquiring an additional 757,569 shares in the last quarter. Morgan Stanley lifted its position in shares of Mplx by 23.7% during the 4th quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company’s stock valued at $307,577,000 after acquiring an additional 1,104,510 shares during the period. Energy Income Partners LLC lifted its position in shares of Mplx by 2.1% during the 3rd quarter. Energy Income Partners LLC now owns 5,659,885 shares of the pipeline company’s stock valued at $282,711,000 after acquiring an additional 118,090 shares during the period. Finally, UBS Group AG boosted its stake in Mplx by 0.7% during the fourth quarter. UBS Group AG now owns 5,304,746 shares of the pipeline company’s stock worth $283,114,000 after acquiring an additional 38,283 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MPLX. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Barclays upped their price objective on shares of Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. The Goldman Sachs Group increased their price objective on shares of Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Wells Fargo & Company reduced their target price on Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Weiss Ratings lowered Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.60.

Mplx Stock Performance

NYSE MPLX opened at $58.33 on Tuesday. The company has a fifty day simple moving average of $56.52 and a 200 day simple moving average of $56.43. Mplx Lp has a 12-month low of $47.80 and a 12-month high of $59.98. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. The company has a market cap of $59.19 billion, a P/E ratio of 12.63, a PEG ratio of 5.66 and a beta of 0.47.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts predict that Mplx Lp will post 4.19 earnings per share for the current fiscal year.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.