Mplx Lp (NYSE:MPLX) VP Randy S. Nickerson sold 15,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $36.20, for a total transaction of $543,000.00. Following the completion of the sale, the vice president now directly owns 177,552 shares of the company’s stock, valued at approximately $6,427,382.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Mplx Lp (NYSE:MPLX) opened at 35.62 on Tuesday. The firm has a market cap of $12.73 billion, a P/E ratio of 11873.33 and a beta of 1.37. Mplx Lp has a 1-year low of $25.98 and a 1-year high of $39.43. The company has a 50-day moving average price of $37.64 and a 200-day moving average price of $34.29.
Mplx Lp (NYSE:MPLX) last announced its earnings results on Wednesday, February 1st. The company reported $0.17 earnings per share (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 had revenue of $714 million for the quarter, compared to analysts’ expectations of $687.77 million. During the same period in the prior year, the business earned ($0.14) earnings per share. The company’s revenue for the quarter was up 114.4% compared to the same quarter last year. On average, equities research analysts forecast that Mplx Lp will post $1.19 EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in MPLX. Infrastructure Capital Advisors LLC acquired a new stake in shares of Mplx Lp during the fourth quarter valued at about $12,993,000. Westwood Holdings Group Inc. raised its stake in shares of Mplx Lp by 0.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 734,321 shares of the company’s stock valued at $25,422,000 after buying an additional 6,533 shares in the last quarter. Castleark Management LLC raised its stake in shares of Mplx Lp by 9.9% in the fourth quarter. Castleark Management LLC now owns 201,749 shares of the company’s stock valued at $6,985,000 after buying an additional 18,220 shares in the last quarter. FFT Wealth Management LLC raised its stake in shares of Mplx Lp by 73.6% in the fourth quarter. FFT Wealth Management LLC now owns 50,306 shares of the company’s stock valued at $1,742,000 after buying an additional 21,323 shares in the last quarter. Finally, Stockbridge Partners LLC raised its stake in shares of Mplx Lp by 20.7% in the fourth quarter. Stockbridge Partners LLC now owns 5,117,208 shares of the company’s stock valued at $177,158,000 after buying an additional 878,586 shares in the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on MPLX. FBR & Co reissued a “hold” rating on shares of Mplx Lp in a research report on Thursday, March 2nd. Mizuho raised shares of Mplx Lp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a research report on Wednesday, January 4th. Royal Bank of Canada reissued a “buy” rating and issued a $47.00 target price on shares of Mplx Lp in a research report on Friday. Citigroup Inc raised shares of Mplx Lp from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $42.00 to $43.00 in a research report on Wednesday, March 1st. They noted that the move was a valuation call. Finally, Wells Fargo & Co raised shares of Mplx Lp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 10th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $40.79.
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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