BB&T Securities LLC decreased its stake in MPLX LP (NYSE:MPLX) by 18.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,849 shares of the pipeline company’s stock after selling 1,366 shares during the period. BB&T Securities LLC’s holdings in MPLX were worth $211,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FFT Wealth Management LLC increased its position in shares of MPLX by 73.6% in the fourth quarter. FFT Wealth Management LLC now owns 50,306 shares of the pipeline company’s stock valued at $1,742,000 after buying an additional 21,323 shares during the period. Stockbridge Partners LLC increased its position in shares of MPLX by 20.7% in the fourth quarter. Stockbridge Partners LLC now owns 5,117,208 shares of the pipeline company’s stock valued at $177,158,000 after buying an additional 878,586 shares during the period. Guggenheim Capital LLC increased its position in shares of MPLX by 283.6% in the fourth quarter. Guggenheim Capital LLC now owns 152,177 shares of the pipeline company’s stock valued at $5,269,000 after buying an additional 112,506 shares during the period. Avenir Corp increased its position in shares of MPLX by 11.1% in the fourth quarter. Avenir Corp now owns 271,061 shares of the pipeline company’s stock valued at $9,384,000 after buying an additional 27,135 shares during the period. Finally, Loomis Sayles & Co. L P bought a new position in shares of MPLX during the fourth quarter valued at about $638,000. Institutional investors own 69.05% of the company’s stock.
MPLX LP (NYSE MPLX) traded up 0.30% during mid-day trading on Friday, reaching $33.11. The company had a trading volume of 2,739,125 shares. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 68.27 and a beta of 1.34. MPLX LP has a 12-month low of $30.09 and a 12-month high of $39.43. The firm has a 50-day moving average price of $34.26 and a 200 day moving average price of $35.46.
MPLX (NYSE:MPLX) last issued its earnings results on Thursday, April 27th. The pipeline company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $886 million for the quarter, compared to analysts’ expectations of $691.38 million. MPLX had a net margin of 13.85% and a return on equity of 4.01%. The firm’s revenue was up 37.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.33) EPS. Analysts expect that MPLX LP will post $0.94 EPS for the current year.
Several brokerages have recently issued reports on MPLX. FBR & Co reiterated a “hold” rating on shares of MPLX in a report on Thursday, March 2nd. Citigroup Inc. upgraded shares of MPLX from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $42.00 to $43.00 in a report on Wednesday, March 1st. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group upgraded shares of MPLX from a “neutral” rating to an “overweight” rating and set a $43.00 price target for the company in a report on Wednesday, March 1st. Jefferies Group LLC reiterated a “buy” rating and set a $44.00 price target on shares of MPLX in a report on Wednesday, April 19th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $47.00 price target on shares of MPLX in a report on Friday, March 17th. Two equities research analysts have rated the stock with a hold rating, eight have assigned 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 $42.10.
In other MPLX news, CEO Gary R. Heminger bought 9,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average price of $33.26 per share, for a total transaction of $299,340.00. Following the transaction, the chief executive officer now directly owns 167,896 shares in the company, valued at $5,584,220.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, 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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