Atria Wealth Solutions Inc. Lowers Holdings in Mplx Lp $MPLX

Atria Wealth Solutions Inc. decreased its stake in Mplx Lp (NYSE:MPLX) by 88.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,893 shares of the pipeline company’s stock after selling 51,184 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Mplx were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MPLX. Blue Trust Inc. boosted its stake in shares of Mplx by 509.0% in the second quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock worth $31,000 after buying an additional 509 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Mplx in the first quarter worth about $33,000. JFS Wealth Advisors LLC purchased a new stake in shares of Mplx in the first quarter worth about $37,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Mplx in the second quarter worth about $39,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Mplx in the first quarter worth about $44,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Price Performance

Shares of Mplx stock opened at $49.63 on Tuesday. The business has a 50 day simple moving average of $50.07 and a two-hundred day simple moving average of $50.52. Mplx Lp has a 12 month low of $43.54 and a 12 month high of $54.87. The stock has a market capitalization of $50.58 billion, a P/E ratio of 11.79, a PEG ratio of 1.33 and a beta of 0.68. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). Mplx had a net margin of 35.44% and a return on equity of 30.95%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the company earned $1.15 EPS. Mplx’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts predict that Mplx Lp will post 4.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MPLX has been the topic of a number of recent analyst reports. Zacks Research downgraded Mplx from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. 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 research report on Tuesday, September 23rd. Weiss Ratings downgraded Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, October 8th. Finally, Morgan Stanley increased their price target on Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 26th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.50.

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.