Mplx Lp (MPLX) Position Raised by Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. boosted its stake in shares of Mplx Lp (NYSE:MPLX) by 13.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,393,330 shares of the company’s stock after buying an additional 170,000 shares during the period. Duff & Phelps Investment Management Co. owned about 0.47% of Mplx Lp worth $46,858,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Advisory Services Network LLC raised its stake in shares of Mplx Lp by 8.5% in the second quarter. Advisory Services Network LLC now owns 3,282 shares of the company’s stock valued at $110,000 after buying an additional 257 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Mplx Lp during the second quarter valued at about $173,000. Catawba Capital Management VA bought a new stake in shares of Mplx Lp during the second quarter valued at about $200,000. Trellus Management Company LLC bought a new stake in shares of Mplx Lp during the second quarter valued at about $202,000. Finally, Cypress Wealth Advisors LLC raised its stake in shares of Mplx Lp by 1.2% in the first quarter. Cypress Wealth Advisors LLC now owns 8,250 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the last quarter.
Shares of Mplx Lp (NYSE:MPLX) traded up 1.47% during trading on Wednesday, reaching $31.76. 3,396,272 shares of the company were exchanged. The firm’s market capitalization is $10.66 billion. Mplx Lp has a 1-year low of $16.34 and a 1-year high of $45.63. The firm’s 50 day moving average is $32.40 and its 200 day moving average is $32.31.
Mplx Lp (NYSE:MPLX) last released its earnings results on Thursday, July 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.39. The firm earned $564 million during the quarter, compared to analyst estimates of $657.88 million. During the same period last year, the business posted $0.50 EPS. The company’s revenue was up 161.1% on a year-over-year basis. On average, equities analysts anticipate that Mplx Lp will post $0.21 EPS for the current fiscal year.
A number of research firms recently commented on MPLX. Zacks Investment Research upgraded shares of Mplx Lp from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Wednesday, July 27th. Jefferies Group began coverage on shares of Mplx Lp in a report on Tuesday, August 23rd. They set a “hold” rating and a $35.00 price target for the company. FBR & Co began coverage on shares of Mplx Lp in a report on Friday, September 9th. They set a “market perform” rating and a $35.00 price target for the company. Mizuho began coverage on shares of Mplx Lp in a report on Friday, September 30th. They set a “neutral” rating and a $35.00 price target for the company. Finally, Barclays PLC began coverage on shares of Mplx Lp in a report on Tuesday, July 19th. They set an “overweight” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $36.11.
In other news, COO Gregory Scott Floerke sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 12th. The stock was sold at an average price of $31.00, for a total transaction of $31,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Nancy Buese sold 15,000 shares of the firm’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $32.81, for a total value of $492,150.00. Following the transaction, the chief financial officer now owns 187,779 shares in the company, valued at approximately $6,161,028.99. The disclosure for this sale can be found here.
About Mplx Lp
MPLX LP is a United States-based diversified master limited partnership (MLP) company, which owns, operates, develops and acquires 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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