MPLX LP (MPLX) Holdings Boosted by Cbre Clarion Securities LLC
Cbre Clarion Securities LLC raised its stake in MPLX LP (NYSE:MPLX) by 33.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 268,329 shares of the pipeline company’s stock after purchasing an additional 67,850 shares during the period. Cbre Clarion Securities LLC owned 0.07% of MPLX worth $8,962,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in MPLX. Ffcm LLC acquired a new stake in shares of MPLX in the second quarter valued at approximately $116,000. Pathstone Family Office LLC acquired a new stake in shares of MPLX in the second quarter valued at approximately $119,000. Private Advisor Group LLC acquired a new stake in shares of MPLX in the first quarter valued at approximately $201,000. Cedar Wealth Management LLC boosted its holdings in shares of MPLX by 17.6% in the second quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock valued at $183,000 after acquiring an additional 820 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of MPLX in the first quarter valued at approximately $198,000. Institutional investors own 63.13% of the company’s stock.
MPLX has been the subject of several research analyst reports. BidaskClub downgraded MPLX from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Stifel Nicolaus reissued a “buy” rating and issued a $42.00 price objective (down from $43.00) on shares of MPLX in a report on Tuesday, September 5th. Zacks Investment Research downgraded MPLX from a “hold” rating to a “strong sell” rating in a report on Saturday, July 15th. Scotiabank set a $44.00 price objective on MPLX and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of MPLX in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $42.25.
In related news, VP C Corwin Bromley sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $34.50, for a total transaction of $86,250.00. Following the completion of the transaction, the vice president now owns 123,705 shares in the company, valued at approximately $4,267,822.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 8,000 shares of company stock valued at $276,910 in the last 90 days.
Shares of MPLX LP (NYSE MPLX) traded up 0.50% during midday trading on Friday, hitting $34.19. The company had a trading volume of 4,157,352 shares. MPLX LP has a 12 month low of $30.09 and a 12 month high of $39.43. The company has a market cap of $13.28 billion, a price-to-earnings ratio of 40.85 and a beta of 1.36. The stock’s 50-day moving average price is $34.13 and its 200-day moving average price is $34.77.
MPLX (NYSE:MPLX) last released its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. MPLX had a return on equity of 6.13% and a net margin of 19.07%. The business had revenue of $916.00 million during the quarter, compared to analyst estimates of $884.70 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities research analysts forecast that MPLX LP will post $0.96 EPS 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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