Axxcess Wealth Management LLC Has $304,000 Stock Holdings in Mplx Lp (NYSE:MPLX)

Axxcess Wealth Management LLC cut its holdings in Mplx Lp (NYSE:MPLX) by 27.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,306 shares of the pipeline company’s stock after selling 2,772 shares during the period. Axxcess Wealth Management LLC’s holdings in Mplx were worth $304,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. PSI Advisors LLC raised its position in shares of Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Mplx during the first quarter valued at about $35,000. HBC Financial Services PLLC acquired a new position in shares of Mplx during the fourth quarter valued at about $36,000. Pacifica Partners Inc. acquired a new position in shares of Mplx during the first quarter valued at about $41,000. Finally, Crewe Advisors LLC acquired a new position in shares of Mplx during the first quarter valued at about $41,000. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Performance

NYSE MPLX opened at $43.09 on Friday. The firm has a market cap of $43.79 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 2.16 and a beta of 1.37. The company has a 50 day moving average of $41.66 and a 200-day moving average of $40.47. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. Mplx Lp has a 1-year low of $34.32 and a 1-year high of $43.42.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Friday. Barclays increased their price target on shares of Mplx from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. increased their price target on shares of Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research 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 stock a “buy” rating in a research report on Friday, April 12th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $45.75.

About Mplx

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.