Janney Montgomery Scott LLC Sells 3,506 Shares of Mplx Lp (MPLX)
Janney Montgomery Scott LLC decreased its position in Mplx Lp (NYSE:MPLX) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,093 shares of the pipeline company’s stock after selling 3,506 shares during the period. Janney Montgomery Scott LLC’s holdings in Mplx were worth $1,894,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Cohen & Steers Inc. raised its holdings in Mplx by 15.2% in the 3rd quarter. Cohen & Steers Inc. now owns 881,148 shares of the pipeline company’s stock valued at $30,849,000 after acquiring an additional 116,515 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Mplx by 15.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 33,479 shares of the pipeline company’s stock valued at $1,172,000 after acquiring an additional 4,457 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in Mplx by 43.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 67,333 shares of the pipeline company’s stock valued at $2,357,000 after acquiring an additional 20,469 shares in the last quarter. Stockbridge Partners LLC raised its holdings in Mplx by 7.1% in the 3rd quarter. Stockbridge Partners LLC now owns 5,497,456 shares of the pipeline company’s stock valued at $192,466,000 after acquiring an additional 364,351 shares in the last quarter. Finally, Castleton Investment Management LLC acquired a new position in Mplx in the 3rd quarter valued at approximately $700,000. 64.29% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Guggenheim lowered Mplx from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research note on Monday. Royal Bank of Canada reiterated a “buy” rating and issued a $46.00 price objective on shares of Mplx in a research note on Wednesday, November 15th. BidaskClub upgraded Mplx from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 31st. UBS upped their price objective on Mplx from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus lowered their price objective on Mplx from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $41.55.
Shares of Mplx Lp (NYSE:MPLX) opened at $36.58 on Tuesday. Mplx Lp has a 12 month low of $30.88 and a 12 month high of $39.43. The firm has a market capitalization of $14,999.12, a P/E ratio of 39.68, a PEG ratio of 4.92 and a beta of 1.36. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68.
Mplx (NYSE:MPLX) last released its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.07 million. Mplx had a return on equity of 5.87% and a net margin of 16.79%. Mplx’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. sell-side analysts predict that Mplx Lp will post 1.05 earnings per share for the current year.
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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