Ffcm LLC bought a new position in shares of Mplx Lp (NYSE:MPLX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,375 shares of the pipeline company’s stock, valued at approximately $116,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. First Trust Advisors LP bought a new stake in Mplx Lp during the second quarter valued at $5,064,000. Marshall Wace North America L.P. bought a new stake in Mplx Lp during the second quarter valued at $2,971,000. JPMorgan Chase & Co. increased its stake in Mplx Lp by 9.5% during the first quarter. JPMorgan Chase & Co. now owns 4,915,070 shares of the pipeline company’s stock valued at $177,336,000 after purchasing an additional 427,617 shares during the last quarter. American International Group Inc. bought a new stake in Mplx Lp during the first quarter valued at $567,000. Finally, Johnson Financial Group LLC bought a new stake in Mplx Lp during the second quarter valued at $254,000. 63.13% of the stock is currently owned by hedge funds and other institutional investors.
Mplx Lp (NYSE:MPLX) opened at 34.19 on Friday. The firm has a market cap of $13.28 billion, a P/E ratio of 40.85 and a beta of 1.36. Mplx Lp has a 12-month low of $30.09 and a 12-month high of $39.43. The company has a 50-day moving average price of $34.13 and a 200-day moving average price of $34.77.
Mplx Lp (NYSE:MPLX) last announced its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.10. Mplx Lp had a return on equity of 6.13% and a net margin of 19.07%. The business had revenue of $916.00 million for the quarter, compared to analyst estimates of $884.70 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 31.2% on a year-over-year basis. On average, analysts predict that Mplx Lp will post $0.96 earnings per share for the current year.
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A number of brokerages have weighed in on MPLX. Scotiabank set a $44.00 price target on shares of Mplx Lp and gave the company a “buy” rating in a report on Saturday, July 22nd. Guggenheim began coverage on shares of Mplx Lp in a report on Thursday, July 20th. They issued a “buy” rating and a $40.00 price target for the company. BidaskClub raised shares of Mplx Lp from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mplx Lp in a research note on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $42.00 price objective (down from $43.00) on shares of Mplx Lp in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $42.25.
In other news, VP C Corwin Bromley sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $34.65, for a total value of $173,250.00. Following the transaction, the vice president now owns 123,705 shares in the company, valued at $4,286,378.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,000 shares of company stock worth $276,910 in the last 90 days.
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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