Short Interest in Mplx Lp (NYSE:MPLX) Increases By 7.0%

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Mplx Lp (NYSE:MPLX) was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 11,557,500 shares, an increase of 7.0% from the May 30th total of 10,800,000 shares. Approximately 4.1% of the shares of the stock are short sold. Based on an average trading volume of 1,820,000 shares, the days-to-cover ratio is currently 6.4 days.

Institutional investors and hedge funds have recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC lifted its stake in Mplx by 2.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 18,639 shares of the pipeline company’s stock valued at $613,000 after acquiring an additional 492 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in Mplx by 16.7% during the fourth quarter. Belpointe Asset Management LLC now owns 3,501 shares of the pipeline company’s stock worth $106,000 after buying an additional 500 shares in the last quarter. Williams Jones & Associates LLC boosted its stake in Mplx by 0.8% during the first quarter. Williams Jones & Associates LLC now owns 65,583 shares of the pipeline company’s stock worth $2,157,000 after buying an additional 540 shares in the last quarter. Clear Street Markets LLC boosted its stake in shares of Mplx by 9.1% in the 2nd quarter. Clear Street Markets LLC now owns 7,200 shares of the pipeline company’s stock valued at $232,000 after purchasing an additional 600 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Mplx by 8.0% in the 4th quarter. Comerica Bank now owns 8,167 shares of the pipeline company’s stock valued at $280,000 after purchasing an additional 603 shares in the last quarter. 30.74% of the stock is currently owned by institutional investors.

MPLX opened at $31.87 on Wednesday. The company’s fifty day moving average price is $31.72. The firm has a market cap of $25.48 billion, a price-to-earnings ratio of 13.92 and a beta of 1.16. Mplx has a twelve month low of $28.32 and a twelve month high of $39.01. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.85 and a current ratio of 0.93.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Mplx had a net margin of 28.57% and a return on equity of 27.44%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.61 EPS. Analysts forecast that Mplx will post 2.51 earnings per share for the current year.

A number of brokerages recently weighed in on MPLX. Raymond James began coverage on shares of Solar Capital in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $22.50 price target on the stock. ValuEngine upgraded shares of XPO Logistics from a “strong sell” rating to a “sell” rating in a report on Thursday, April 4th. Bank of America lifted their target price on shares of Armstrong World Industries from $95.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. BMO Capital Markets initiated coverage on shares of Mplx in a report on Monday, June 10th. They issued a “market perform” rating and a $35.00 target price for the company. Finally, Wells Fargo & Co decreased their price target on shares of Teva Pharmaceutical Industries from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $38.80.

About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.

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