Envestnet Asset Management Inc. cut its stake in shares of MPLX LP (NYSE:MPLX) by 5.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,302 shares of the pipeline company’s stock after selling 931 shares during the period. Envestnet Asset Management Inc.’s holdings in MPLX were worth $623,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new stake in shares of MPLX during the first quarter valued at about $198,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of MPLX by 4.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 147,186 shares of the pipeline company’s stock valued at $5,310,000 after buying an additional 6,760 shares during the last quarter. Infrastructure Capital Advisors LLC boosted its stake in shares of MPLX by 48.6% in the first quarter. Infrastructure Capital Advisors LLC now owns 557,862 shares of the pipeline company’s stock valued at $20,128,000 after buying an additional 182,561 shares during the last quarter. Groesbeck Investment Management Corp NJ boosted its stake in shares of MPLX by 17.3% in the first quarter. Groesbeck Investment Management Corp NJ now owns 35,540 shares of the pipeline company’s stock valued at $1,283,000 after buying an additional 5,229 shares during the last quarter. Finally, Summit Equities Inc boosted its stake in shares of MPLX by 13.1% in the first quarter. Summit Equities Inc now owns 30,014 shares of the pipeline company’s stock valued at $1,083,000 after buying an additional 3,471 shares during the last quarter. Institutional investors own 69.05% of the company’s stock.
MPLX LP (NYSE:MPLX) opened at 33.11 on Friday. MPLX LP has a 12-month low of $30.09 and a 12-month high of $39.43. The stock’s 50 day moving average price is $34.26 and its 200-day moving average price is $35.46. The stock has a market capitalization of $12.41 billion, a PE ratio of 68.27 and a beta of 1.34.
MPLX (NYSE:MPLX) last released its earnings results on Thursday, April 27th. The pipeline company reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The firm had revenue of $886 million during the quarter, compared to analyst estimates of $691.38 million. MPLX had a return on equity of 4.01% and a net margin of 13.85%. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) earnings per share. Analysts expect that MPLX LP will post $0.94 earnings per share for the current year.
Several analysts have issued reports on the company. Zacks Investment Research upgraded MPLX from a “sell” rating to a “hold” rating in a report on Thursday, May 18th. TheStreet upgraded MPLX from a “c” rating to a “b-” rating in a report on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and issued a $44.00 target price on shares of MPLX in a report on Wednesday, April 19th. Citigroup Inc. upped their target price on MPLX from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, April 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $47.00 target price on shares of MPLX in a report on Friday, March 17th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.10.
In other MPLX news, CEO Gary R. Heminger bought 9,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average cost of $33.26 per share, for a total transaction of $299,340.00. Following the completion of the purchase, the chief executive officer now owns 167,896 shares of the company’s stock, valued at approximately $5,584,220.96. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
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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