Lucas Capital Management Sells 5,351 Shares of Mplx Lp (MPLX)
Lucas Capital Management trimmed its stake in shares of Mplx Lp (NYSE:MPLX) by 9.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,338 shares of the pipeline company’s stock after selling 5,351 shares during the quarter. Mplx Lp accounts for 1.6% of Lucas Capital Management’s portfolio, making the stock its 23rd largest holding. Lucas Capital Management’s holdings in Mplx Lp were worth $1,797,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Financial Group LLC acquired a new position in shares of Mplx Lp in the 2nd quarter worth approximately $254,000. Roanoke Asset Management Corp NY boosted its holdings in shares of Mplx Lp by 14.1% in the 2nd quarter. Roanoke Asset Management Corp NY now owns 9,749 shares of the pipeline company’s stock worth $326,000 after acquiring an additional 1,205 shares in the last quarter. Bollard Group LLC boosted its holdings in shares of Mplx Lp by 1.8% in the 2nd quarter. Bollard Group LLC now owns 48,560 shares of the pipeline company’s stock worth $1,622,000 after acquiring an additional 847 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Mplx Lp by 2.5% in the 2nd quarter. US Bancorp DE now owns 72,574 shares of the pipeline company’s stock worth $2,424,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Private Capital Management Inc. boosted its holdings in shares of Mplx Lp by 50.0% in the 2nd quarter. Private Capital Management Inc. now owns 14,100 shares of the pipeline company’s stock worth $471,000 after acquiring an additional 4,700 shares in the last quarter. 62.86% of the stock is currently owned by institutional investors.
Shares of Mplx Lp (NYSE MPLX) traded down $0.15 during trading on Monday, hitting $34.78. 568,700 shares of the company’s stock traded hands, compared to its average volume of 1,408,240. The company has a market cap of $14,446.67, a PE ratio of 38.22, a price-to-earnings-growth ratio of 4.94 and a beta of 1.35. Mplx Lp has a 52 week low of $30.88 and a 52 week high of $39.43. 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 Lp (NYSE:MPLX) last issued its earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The company had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.07 million. Mplx Lp had a net margin of 16.79% and a return on equity of 5.87%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. research analysts forecast that Mplx Lp will post 1.01 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th will be given a dividend of $0.5875 per share. This is a boost from Mplx Lp’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.35 annualized dividend and a dividend yield of 6.76%. Mplx Lp’s payout ratio is presently 258.24%.
MPLX has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $42.00 target price (down from $43.00) on shares of Mplx Lp in a report on Tuesday, September 5th. BidaskClub downgraded Mplx Lp from a “sell” rating to a “strong sell” rating in a report on Friday, October 13th. Jefferies Group LLC reduced their target price on Mplx Lp from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, August 28th. Mizuho restated a “buy” rating and issued a $40.00 price objective on shares of Mplx Lp in a research report on Friday, October 20th. Finally, Scotiabank restated a “buy” rating and issued a $44.00 price objective on shares of Mplx Lp in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.75.
In other Mplx Lp news, VP C Corwin Bromley sold 5,000 shares of the company’s 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 completion of the sale, the vice president now owns 123,705 shares in the company, valued at approximately $4,286,378.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 8,000 shares of company stock valued at $276,910 in the last quarter.
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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