Pointe Capital Management LLC Trims Position in Mplx Lp (MPLX)
Pointe Capital Management LLC lowered its stake in shares of Mplx Lp (NYSE:MPLX) by 21.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 63,895 shares of the pipeline company’s stock after selling 17,305 shares during the period. Mplx comprises approximately 1.8% of Pointe Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Pointe Capital Management LLC’s holdings in Mplx were worth $2,266,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in Mplx by 16.8% during the third quarter. Alps Advisors Inc. now owns 23,435,667 shares of the pipeline company’s stock worth $820,483,000 after purchasing an additional 3,379,395 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in Mplx by 19.3% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 22,787,043 shares of the pipeline company’s stock worth $797,774,000 after purchasing an additional 3,681,395 shares during the period. Harvest Fund Advisors LLC boosted its position in Mplx by 2.4% during the third quarter. Harvest Fund Advisors LLC now owns 16,963,387 shares of the pipeline company’s stock worth $593,888,000 after purchasing an additional 402,273 shares during the period. Atlantic Trust Group LLC boosted its position in Mplx by 4.5% during the third quarter. Atlantic Trust Group LLC now owns 7,056,755 shares of the pipeline company’s stock worth $247,057,000 after purchasing an additional 303,471 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Mplx by 20.9% during the third quarter. JPMorgan Chase & Co. now owns 5,783,189 shares of the pipeline company’s stock worth $201,776,000 after purchasing an additional 999,582 shares during the period. Institutional investors own 64.29% of the company’s stock.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Mplx from a “hold” rating to a “sell” rating in a research report on Wednesday. Bank of America assumed coverage on shares of Mplx in a report on Tuesday. They issued a “buy” rating on the stock. Credit Suisse Group assumed coverage on shares of Mplx in a report on Thursday, January 4th. They issued an “outperform” rating and a $43.00 price target on the stock. Guggenheim downgraded shares of Mplx from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Monday, December 18th. Finally, Scotiabank reissued a “buy” rating and issued a $44.00 price target on shares of Mplx in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $41.67.
Shares of Mplx Lp (NYSE MPLX) traded up $0.35 during trading on Friday, hitting $38.78. 1,837,161 shares of the stock were exchanged, compared to its average volume of 1,625,222. Mplx Lp has a 52-week low of $30.88 and a 52-week high of $39.43. The stock has a market capitalization of $16,110.00, a P/E ratio of 42.62, a price-to-earnings-growth ratio of 2.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.48 and a current ratio of 0.54.
Mplx (NYSE:MPLX) last announced its earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $980.00 million for the quarter, compared to the consensus estimate of $965.07 million. Mplx had a net margin of 16.79% and a return on equity of 5.87%. Mplx’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share. equities research analysts expect that Mplx Lp will post 1.08 EPS for the current year.
In related news, VP Gregory Scott Floerke sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $34.69, for a total value of $138,760.00. Following the sale, the vice president now directly owns 83,598 shares of the company’s stock, valued at $2,900,014.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,000 shares of company stock worth $284,760 over the last ninety days.
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Mplx 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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