ELCO Management Co. LLC Sells 645 Shares of Mplx Lp (MPLX)
ELCO Management Co. LLC lessened its holdings in shares of Mplx Lp (NYSE:MPLX) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,991 shares of the pipeline company’s stock after selling 645 shares during the period. Mplx Lp makes up 2.1% of ELCO Management Co. LLC’s portfolio, making the stock its 8th biggest position. ELCO Management Co. LLC’s holdings in Mplx Lp were worth $3,540,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in MPLX. Waldron LP acquired a new stake in shares of Mplx Lp during the first quarter worth $220,000. Bank of New York Mellon Corp boosted its stake in Mplx Lp by 45.4% in the 1st quarter. Bank of New York Mellon Corp now owns 171,047 shares of the pipeline company’s stock worth $6,172,000 after purchasing an additional 53,438 shares during the period. Mutual of America Capital Management LLC boosted its stake in Mplx Lp by 4.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 20,768 shares of the pipeline company’s stock worth $749,000 after purchasing an additional 937 shares during the period. Keybank National Association OH boosted its stake in Mplx Lp by 3.3% in the 1st quarter. Keybank National Association OH now owns 8,735 shares of the pipeline company’s stock worth $315,000 after purchasing an additional 275 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new position in Mplx Lp in the 1st quarter worth $198,000. Institutional investors and hedge funds own 63.16% of the company’s stock.
A number of equities analysts have issued reports on MPLX shares. BidaskClub upgraded Mplx Lp from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Guggenheim started coverage on Mplx Lp in a research note on Thursday, July 20th. They issued a “buy” rating and a $40.00 price target on the stock. Royal Bank Of Canada restated a “buy” rating on shares of Mplx Lp in a report on Friday, July 28th. Scotiabank set a $44.00 price target on Mplx Lp and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, Zacks Investment Research cut Mplx Lp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $42.25.
Mplx Lp (NYSE:MPLX) traded down 0.34% during mid-day trading on Tuesday, reaching $35.33. The company had a trading volume of 167,317 shares. The stock has a 50 day moving average price of $34.12 and a 200 day moving average price of $34.65. The company has a market capitalization of $13.73 billion, a P/E ratio of 42.21 and a beta of 1.36. Mplx Lp has a one year low of $30.09 and a one year high of $39.43.
Mplx Lp (NYSE:MPLX) last issued its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $884.70 million. Mplx Lp had a net margin of 19.07% and a return on equity of 6.13%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS. On average, equities analysts expect that Mplx Lp will post $0.98 earnings per share for the current fiscal year.
In related news, VP C Corwin Bromley sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $34.50, for a total value of $86,250.00. Following the sale, the vice president now directly owns 123,705 shares in the company, valued at approximately $4,267,822.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 8,000 shares of company stock valued at $276,910.
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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