Bank of New York Mellon Corp Sells 170,679 Shares of Mplx Lp (MPLX)

Bank of New York Mellon Corp reduced its stake in shares of Mplx Lp (NYSE:MPLX) by 67.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,597 shares of the pipeline company’s stock after selling 170,679 shares during the quarter. Bank of New York Mellon Corp’s holdings in Mplx were worth $2,926,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Optimum Investment Advisors raised its position in Mplx by 0.3% during the second quarter. Optimum Investment Advisors now owns 7,654 shares of the pipeline company’s stock valued at $256,000 after acquiring an additional 21 shares in the last quarter. CNH Partners LLC increased its position in shares of Mplx by 0.4% in the second quarter. CNH Partners LLC now owns 23,115 shares of the pipeline company’s stock valued at $772,000 after buying an additional 100 shares in the last quarter. M&T Bank Corp increased its position in shares of Mplx by 0.3% in the second quarter. M&T Bank Corp now owns 59,573 shares of the pipeline company’s stock valued at $1,990,000 after buying an additional 166 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Mplx by 2.3% in the second quarter. Advisory Services Network LLC now owns 9,363 shares of the pipeline company’s stock valued at $313,000 after buying an additional 213 shares in the last quarter. Finally, Keybank National Association OH increased its position in shares of Mplx by 2.8% in the second quarter. Keybank National Association OH now owns 8,980 shares of the pipeline company’s stock valued at $300,000 after buying an additional 245 shares in the last quarter. Institutional investors own 64.29% of the company’s stock.

Shares of Mplx Lp (NYSE:MPLX) opened at $36.80 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.48 and a current ratio of 0.54. Mplx Lp has a 12-month low of $30.88 and a 12-month high of $39.43. The company has a market capitalization of $15,290.00, a P/E ratio of 40.44, a P/E/G ratio of 2.91 and a beta of 1.38.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Mplx had a return on equity of 5.87% and a net margin of 16.79%. The firm had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.07 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. analysts predict that Mplx Lp will post 1.08 EPS for the current fiscal year.

In related news, VP Gregory Scott Floerke sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $36.00, for a total transaction of $72,000.00. Following the completion of the sale, the vice president now directly owns 79,598 shares in the company, valued at $2,865,528. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 8,000 shares of company stock valued at $284,760 over the last quarter.

MPLX has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $46.00 price objective on shares of Mplx in a research report on Wednesday, November 15th. Scotiabank restated a “buy” rating and issued a $44.00 price objective on shares of Mplx in a research report on Wednesday, October 4th. Zacks Investment Research cut Mplx from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. UBS Group boosted their price objective on Mplx from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Finally, Guggenheim cut Mplx from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. Mplx currently has a consensus rating of “Buy” and an average price target of $41.67.

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About Mplx

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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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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