Raymond James Financial Services Advisors Inc. raised its holdings in shares of MPLX LP (NYSE:MPLX) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,440 shares of the pipeline company’s stock after acquiring an additional 8,254 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in MPLX were worth $5,192,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. IHT Wealth Management LLC purchased a new stake in shares of MPLX during the second quarter worth about $1,229,000. Ffcm LLC purchased a new stake in shares of MPLX during the second quarter worth about $116,000. Pathstone Family Office LLC purchased a new stake in shares of MPLX during the second quarter worth about $119,000. Cedar Wealth Management LLC grew its holdings in shares of MPLX by 17.6% during the second quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock worth $183,000 after buying an additional 820 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of MPLX during the first quarter worth about $198,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.
In other MPLX news, VP C Corwin Bromley sold 5,000 shares of the company’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 transaction of $173,250.00. Following the completion of the sale, the vice president now owns 123,705 shares of the company’s stock, valued at $4,286,378.25. 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 $276,910 in the last ninety days.
Shares of MPLX LP (NYSE:MPLX) traded down 1.310% on Friday, reaching $34.275. 213,361 shares of the company’s stock were exchanged. The company has a market capitalization of $13.32 billion, a P/E ratio of 40.950 and a beta of 1.36. The firm’s 50 day moving average price is $34.63 and its 200-day moving average price is $34.65. MPLX LP has a 12 month low of $30.09 and a 12 month high of $39.43.
MPLX (NYSE:MPLX) last announced its earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The firm had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $884.70 million. MPLX had a return on equity of 6.13% and a net margin of 19.07%. The company’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.11) earnings per share. On average, equities analysts anticipate that MPLX LP will post $0.98 EPS for the current year.
A number of equities research analysts have recently commented on MPLX shares. Scotiabank set a $44.00 price target on shares of MPLX and gave the stock a “buy” rating in a report on Saturday, July 22nd. Guggenheim started coverage on shares of MPLX in a report on Thursday, July 20th. They set a “buy” rating and a $40.00 price target for the company. BidaskClub upgraded shares of MPLX from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Royal Bank Of Canada reiterated a “buy” rating on shares of MPLX in a report on Friday, July 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $42.00 price target (down from $43.00) on shares of MPLX in a report on Tuesday, September 5th. Two research 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 has a consensus rating of “Buy” and a consensus price target of $42.25.
MPLX 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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