Moors & Cabot Inc. boosted its position in Mplx Lp (NYSE:MPLX) by 77.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,352 shares of the pipeline company’s stock after buying an additional 8,869 shares during the period. Moors & Cabot Inc.’s holdings in Mplx were worth $569,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Advantage Investment Management LLC bought a new stake in Mplx in the 3rd quarter valued at about $28,000. Berman Capital Advisors LLC increased its holdings in Mplx by 146.2% during the 2nd quarter. Berman Capital Advisors LLC now owns 975 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 579 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in Mplx during the 2nd quarter worth approximately $31,000. Sonora Investment Management LLC bought a new stake in Mplx during the 2nd quarter worth approximately $32,000. Finally, Griffin Asset Management Inc. bought a new stake in Mplx during the 2nd quarter worth approximately $32,000. 23.54% of the stock is owned by institutional investors and hedge funds.

In other Mplx news, CEO Gary R. Heminger bought 42,600 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $27.18 per share, for a total transaction of $1,157,868.00. Following the purchase, the chief executive officer now directly owns 131,956 shares of the company’s stock, valued at $3,586,564.08. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Garry L. Peiffer bought 18,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average price of $27.15 per share, for a total transaction of $488,700.00. Following the purchase, the director now directly owns 14,302 shares in the company, valued at $388,299.30. The disclosure for this purchase can be found here. Insiders bought a total of 79,400 shares of company stock worth $2,159,808 in the last 90 days.

A number of analysts have commented on the company. Citigroup decreased their price objective on Mplx from $40.00 to $32.00 and set a “buy” rating for the company in a report on Monday, September 16th. Jefferies Financial Group reissued a “buy” rating and set a $35.00 price objective on shares of Mplx in a report on Tuesday, September 3rd. Barclays reissued an “overweight” rating and set a $33.00 price objective on shares of Mplx in a report on Monday, August 19th. Raymond James decreased their price objective on Mplx from $34.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Scotiabank assumed coverage on Mplx in a report on Tuesday, September 3rd. They set an “outperform” rating and a $36.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Mplx currently has an average rating of “Buy” and an average price target of $35.73.

Shares of MPLX opened at $27.08 on Thursday. Mplx Lp has a 52 week low of $25.85 and a 52 week high of $35.85. The stock has a 50 day moving average price of $28.14 and a two-hundred day moving average price of $30.14. The firm has a market capitalization of $28.69 billion, a P/E ratio of 11.83 and a beta of 1.10. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.68 and a current ratio of 0.75.

Mplx (NYSE:MPLX) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Mplx had a return on equity of 27.94% and a net margin of 28.78%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. Mplx’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Mplx Lp will post 2.46 earnings per share for the current year.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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