Advisor Group Inc. Buys 822 Shares of MPLX LP (MPLX)
Advisor Group Inc. grew its stake in shares of MPLX LP (NYSE:MPLX) by 15.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,140 shares of the pipeline company’s stock after acquiring an additional 822 shares during the period. Advisor Group Inc.’s holdings in MPLX were worth $205,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of MPLX. Ffcm LLC purchased a new stake in shares of MPLX during the second quarter worth $116,000. Pathstone Family Office LLC purchased a new stake in shares of MPLX during the second quarter worth $119,000. Cedar Wealth Management LLC lifted its position 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 acquiring an additional 820 shares in the last quarter. BB&T Securities LLC lifted its position in shares of MPLX by 6.2% during the second quarter. BB&T Securities LLC now owns 6,209 shares of the pipeline company’s stock worth $207,000 after acquiring an additional 360 shares in the last quarter. Finally, Waldron LP purchased a new stake in shares of MPLX during the first quarter worth $220,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.
In related news, VP C Corwin Bromley sold 5,000 shares of MPLX stock in a transaction on Friday, September 15th. The shares were sold at an average price of $34.65, for a total transaction of $173,250.00. Following the transaction, the vice president now owns 123,705 shares in the company, valued at approximately $4,286,378.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 8,000 shares of company stock worth $276,910.
Several equities research analysts have issued reports on MPLX shares. Stifel Nicolaus restated a “buy” rating and set a $42.00 target price (down previously from $43.00) on shares of MPLX in a research report on Tuesday, September 5th. BidaskClub upgraded MPLX from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Jefferies Group LLC dropped their target price on MPLX from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, August 28th. Scotiabank set a $44.00 target price on MPLX and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Finally, Royal Bank Of Canada restated a “buy” rating on shares of MPLX in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $41.83.
Shares of MPLX LP (MPLX) opened at 34.09 on Thursday. The company has a 50 day moving average price of $34.71 and a 200-day moving average price of $34.61. MPLX LP has a 12 month low of $30.31 and a 12 month high of $39.43. The stock has a market cap of $13.24 billion, a P/E ratio of 40.73 and a beta of 1.36.
MPLX (NYSE:MPLX) last released its earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.10. MPLX had a net margin of 19.07% and a return on equity of 6.13%. The company had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $884.70 million. During the same quarter in the previous year, the company earned ($0.11) EPS. MPLX’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities research analysts predict that MPLX LP will post $0.99 earnings per share for the current year.
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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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