Private Capital Management Inc. boosted its stake in shares of MPLX LP (NYSE:MPLX) by 50.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,100 shares of the pipeline company’s stock after buying an additional 4,700 shares during the period. Private Capital Management Inc.’s holdings in MPLX were worth $471,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. US Bancorp DE boosted its stake in MPLX by 2.5% in the second quarter. US Bancorp DE now owns 72,574 shares of the pipeline company’s stock worth $2,424,000 after buying an additional 1,772 shares during the last quarter. Bollard Group LLC boosted its stake in MPLX by 1.8% in the second quarter. Bollard Group LLC now owns 48,560 shares of the pipeline company’s stock worth $1,622,000 after buying an additional 847 shares during the last quarter. Roanoke Asset Management Corp NY raised its position in shares of MPLX by 14.1% in the second quarter. Roanoke Asset Management Corp NY now owns 9,749 shares of the pipeline company’s stock worth $326,000 after buying an additional 1,205 shares during the period. Johnson Financial Group LLC acquired a new position in shares of MPLX during the second quarter worth about $254,000. Finally, Winslow Evans & Crocker Inc. raised its position in shares of MPLX by 220.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 19,478 shares of the pipeline company’s stock worth $669,000 after buying an additional 13,402 shares during the period. 69.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MPLX LP (NYSE:MPLX) traded down 0.80% during mid-day trading on Friday, hitting $35.84. The stock had a trading volume of 1,392,683 shares. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 73.90 and a beta of 1.34. The company has a 50-day moving average of $33.46 and a 200 day moving average of $35.62. MPLX LP has a one year low of $30.09 and a one year high of $39.43.
MPLX (NYSE:MPLX) last issued its quarterly earnings data on Thursday, April 27th. The pipeline company reported $0.19 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.19. The business had revenue of $886 million for the quarter, compared to analyst estimates of $691.38 million. MPLX had a return on equity of 4.01% and a net margin of 13.85%. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.33) EPS. On average, equities research analysts forecast that MPLX LP will post $0.89 earnings per share for the current year.
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A number of equities analysts have recently issued reports on MPLX shares. Jefferies Group LLC restated a “buy” rating and set a $44.00 target price on shares of MPLX in a research report on Wednesday, April 19th. Zacks Investment Research upgraded shares of MPLX from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th. TheStreet upgraded shares of MPLX from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Citigroup Inc. boosted their target price on shares of MPLX from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, April 3rd. Finally, BidaskClub upgraded shares of MPLX from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.91.
In related news, CEO Gary R. Heminger acquired 9,000 shares of the stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $33.26 per share, with a total value of $299,340.00. Following the acquisition, the chief executive officer now owns 167,896 shares in the company, valued at approximately $5,584,220.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
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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