Diversified Trust Co increased its position in shares of Mplx Lp (NYSE:MPLX) by 25.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,535 shares of the pipeline company’s stock after purchasing an additional 13,033 shares during the quarter. Diversified Trust Co’s holdings in Mplx were worth $1,808,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Alps Advisors Inc. increased its position in Mplx by 3.5% in the 2nd quarter. Alps Advisors Inc. now owns 27,722,566 shares of the pipeline company’s stock valued at $892,389,000 after acquiring an additional 945,913 shares in the last quarter. Invesco Ltd. boosted its stake in Mplx by 3,767.3% during the 2nd quarter. Invesco Ltd. now owns 10,803,970 shares of the pipeline company’s stock worth $347,780,000 after acquiring an additional 10,524,600 shares during the last quarter. Brookfield Asset Management Inc. boosted its stake in Mplx by 9.6% during the 2nd quarter. Brookfield Asset Management Inc. now owns 8,598,229 shares of the pipeline company’s stock worth $276,777,000 after acquiring an additional 751,898 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in Mplx by 41.7% during the 3rd quarter. Chickasaw Capital Management LLC now owns 8,363,133 shares of the pipeline company’s stock worth $234,251,000 after acquiring an additional 2,462,967 shares during the last quarter. Finally, Zimmer Partners LP boosted its stake in Mplx by 10.6% during the 2nd quarter. Zimmer Partners LP now owns 4,236,358 shares of the pipeline company’s stock worth $136,368,000 after acquiring an additional 407,169 shares during the last quarter. Institutional investors and hedge funds own 23.25% of the company’s stock.
MPLX traded up $0.09 during trading on Wednesday, reaching $27.14. The company had a trading volume of 10,306 shares, compared to its average volume of 2,092,807. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.75 and a quick ratio of 0.68. Mplx Lp has a 12 month low of $25.85 and a 12 month high of $35.85. The business’s fifty day moving average price is $28.37 and its 200 day moving average price is $30.62. The company has a market cap of $28.83 billion, a P/E ratio of 11.85 and a beta of 1.10.
In other Mplx news, CEO Gary R. Heminger acquired 42,600 shares of the stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $27.18 per share, for a total transaction of $1,157,868.00. Following the completion of the acquisition, the chief executive officer now directly owns 131,956 shares of the company’s stock, valued at $3,586,564.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Garry L. Peiffer acquired 18,800 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $27.30 per share, for a total transaction of $513,240.00. Following the completion of the acquisition, the director now directly owns 14,302 shares of the company’s stock, valued at $390,444.60. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 79,400 shares of company stock worth $2,159,808.
Several research firms recently weighed in on MPLX. Scotiabank began coverage on shares of Mplx in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $36.00 price objective on the stock. Credit Suisse Group reissued an “outperform” rating and set a $33.00 price objective (down previously from $38.00) on shares of Mplx in a research note on Monday, August 12th. Jefferies Financial Group reissued a “buy” rating and set a $35.00 price objective on shares of Mplx in a research note on Tuesday, September 3rd. ValuEngine raised shares of Mplx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Citigroup cut their price target on shares of Mplx from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. Mplx presently has an average rating of “Buy” and a consensus target price of $35.73.
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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