Fairfield Bush & CO. lowered its holdings in Mplx Lp (NYSE:MPLX) by 17.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,567 shares of the pipeline company’s stock after selling 3,400 shares during the quarter. Fairfield Bush & CO.’s holdings in Mplx Lp were worth $553,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of MPLX. Bank of America Corp DE boosted its stake in Mplx Lp by 130.8% in the first quarter. Bank of America Corp DE now owns 6,196,080 shares of the pipeline company’s stock worth $223,555,000 after purchasing an additional 3,511,264 shares in the last quarter. Bank of Montreal Can boosted its stake in Mplx Lp by 36.3% in the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock worth $208,220,000 after purchasing an additional 1,661,578 shares in the last quarter. Balyasny Asset Management LLC boosted its stake in Mplx Lp by 351.2% in the second quarter. Balyasny Asset Management LLC now owns 1,633,092 shares of the pipeline company’s stock worth $54,545,000 after purchasing an additional 1,271,145 shares in the last quarter. Alps Advisors Inc. boosted its stake in Mplx Lp by 5.3% in the second quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock worth $669,879,000 after purchasing an additional 1,015,105 shares in the last quarter. Finally, American International Group Inc. acquired a new position in Mplx Lp in the first quarter worth $567,000. 63.16% of the stock is currently owned by institutional investors.
MPLX has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Mplx Lp in a research note on Tuesday, September 5th. BidaskClub raised Mplx Lp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reduced their price objective on Mplx Lp from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, August 28th. Scotiabank set a $44.00 price target on Mplx Lp and gave the company a “buy” rating in a research note on Saturday, July 22nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mplx Lp in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Mplx Lp presently has a consensus rating of “Buy” and an average target price of $42.25.
Shares of Mplx Lp (NYSE:MPLX) traded down 0.74% during trading on Tuesday, hitting $34.96. The stock had a trading volume of 554,349 shares. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 41.77 and a beta of 1.36. The stock has a 50 day moving average price of $34.47 and a 200-day moving average price of $34.65. Mplx Lp has a one year low of $30.09 and a one year high of $39.43.
Mplx Lp (NYSE:MPLX) last issued its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The business had revenue of $916.00 million for the quarter, compared to analyst estimates of $884.70 million. Mplx Lp had a return on equity of 6.13% and a net margin of 19.07%. Mplx Lp’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) EPS. On average, equities research analysts predict that Mplx Lp will post $0.98 earnings per share for the current year.
Mplx Lp Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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