Diversified Trust Co decreased its position in shares of Mplx Lp (NYSE:MPLX) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,843 shares of the pipeline company’s stock after selling 2,105 shares during the period. Diversified Trust Co’s holdings in Mplx Lp were worth $2,340,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D bought a new position in Mplx Lp during the third quarter worth $5,096,000. CENTRAL TRUST Co raised its position in Mplx Lp by 19.8% in the third quarter. CENTRAL TRUST Co now owns 5,615 shares of the pipeline company’s stock worth $190,000 after buying an additional 928 shares during the period. Miller Howard Investments Inc. NY raised its position in Mplx Lp by 15.6% in the third quarter. Miller Howard Investments Inc. NY now owns 5,566,662 shares of the pipeline company’s stock worth $188,487,000 after buying an additional 753,164 shares during the period. Conning Inc. raised its position in Mplx Lp by 1.9% in the third quarter. Conning Inc. now owns 114,637 shares of the pipeline company’s stock worth $3,882,000 after buying an additional 2,163 shares during the period. Finally, HITE Hedge Asset Management LLC raised its position in Mplx Lp by 139.7% in the third quarter. HITE Hedge Asset Management LLC now owns 64,573 shares of the pipeline company’s stock worth $2,186,000 after buying an additional 37,632 shares during the period. 67.94% of the stock is owned by institutional investors.
Shares of Mplx Lp (NYSE:MPLX) traded down 1.61% during mid-day trading on Friday, reaching $35.50. The company’s stock had a trading volume of 1,085,546 shares. Mplx Lp has a one year low of $29.33 and a one year high of $39.43. The firm’s 50 day moving average is $36.39 and its 200 day moving average is $34.83. The firm has a market cap of $12.68 billion, a PE ratio of 11833.33 and a beta of 1.37.
Mplx Lp (NYSE:MPLX) last posted its quarterly earnings results on Wednesday, February 1st. The pipeline company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by $0.06. Mplx Lp had a net margin of 7.22% and a return on equity of 3.24%. The business earned $714 million during the quarter, compared to analysts’ expectations of $687.77 million. During the same period in the previous year, the company posted ($0.14) earnings per share. Mplx Lp’s revenue for the quarter was up 114.4% compared to the same quarter last year. On average, equities analysts anticipate that Mplx Lp will post $1.17 earnings per share for the current fiscal year.
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MPLX has been the subject of a number of analyst reports. Mizuho raised Mplx Lp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $37.00 to $42.00 in a research report on Wednesday, January 4th. Wells Fargo & Co raised Mplx Lp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 10th. FBR & Co raised their price objective on Mplx Lp from $35.00 to $38.00 and gave the company a “mkt perform” rating in a research report on Thursday, February 2nd. Barclays PLC raised their price objective on Mplx Lp from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Finally, Mitsubishi UFJ Financial Group raised Mplx Lp from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a research report on Wednesday, March 1st. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Mplx Lp has an average rating of “Buy” and a consensus target price of $41.77.
In other news, VP Randy S. Nickerson sold 15,000 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $38.61, for a total transaction of $579,150.00. Following the sale, the vice president now directly owns 174,666 shares of the company’s stock, valued at approximately $6,743,854.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Gregory Scott Floerke sold 1,000 shares of the stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $37.00, for a total transaction of $37,000.00. Following the sale, the chief operating officer now directly owns 77,181 shares in the company, valued at $2,855,697. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,000 shares of company stock worth $1,159,150.
About Mplx Lp
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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