Randy S. Nickerson Sells 15,000 Shares of Mplx Lp (MPLX) Stock
Mplx Lp (NYSE:MPLX) VP Randy S. Nickerson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $33.07, for a total transaction of $496,050.00. Following the transaction, the vice president now owns 223,585 shares in the company, valued at approximately $7,393,955.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Mplx Lp (NYSE:MPLX) opened at 32.65 on Friday. Mplx Lp has a 12-month low of $16.34 and a 12-month high of $43.89. The company has a 50 day moving average of $32.21 and a 200-day moving average of $32.60. The stock’s market capitalization is $11.38 billion.
Mplx Lp (NYSE:MPLX) last released its earnings results on Thursday, October 27th. The company reported $0.21 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.21. The firm had revenue of $703 million for the quarter, compared to analyst estimates of $654.87 million. During the same period last year, the firm earned $0.41 EPS. The company’s revenue for the quarter was up 228.5% compared to the same quarter last year. On average, equities research analysts forecast that Mplx Lp will post $0.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, November 4th were issued a dividend of $0.515 per share. This is an increase from Mplx Lp’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, November 2nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 6.31%.
Large investors have recently added to or reduced their stakes in the company. Credit Suisse AG increased its stake in Mplx Lp by 1,675.9% in the third quarter. Credit Suisse AG now owns 6,588,084 shares of the company’s stock worth $223,073,000 after buying an additional 6,217,105 shares during the period. Bank of Montreal Can purchased a new stake in Mplx Lp during the second quarter worth approximately $100,897,000. Center Coast Capital Advisors LP increased its position in shares of Mplx Lp by 29.5% in the third quarter. Center Coast Capital Advisors LP now owns 9,623,347 shares of the company’s stock worth $325,847,000 after buying an additional 2,190,017 shares during the last quarter. NGP MR Management LLC increased its position in shares of Mplx Lp by 47.4% in the third quarter. NGP MR Management LLC now owns 6,137,641 shares of the company’s stock worth $207,821,000 after buying an additional 1,974,134 shares during the last quarter. Finally, M&R Follow On Fund Management LP increased its position in shares of Mplx Lp by 47.4% in the third quarter. M&R Follow On Fund Management LP now owns 5,676,849 shares of the company’s stock worth $192,218,000 after buying an additional 1,825,923 shares during the last quarter.
Several equities analysts have issued reports on MPLX shares. Zacks Investment Research cut shares of Mplx Lp from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 29th. Jefferies Group assumed coverage on shares of Mplx Lp in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $35.00 price objective on the stock. Mizuho assumed coverage on shares of Mplx Lp in a research note on Friday, September 30th. They issued a “neutral” rating and a $35.00 price objective on the stock. FBR & Co assumed coverage on shares of Mplx Lp in a research note on Friday, September 9th. They issued a “market perform” rating and a $35.00 price objective on the stock. Finally, Raymond James Financial Inc. upgraded shares of Mplx Lp from a “mkt perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Monday, October 31st. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $36.79.
Mplx Lp Company Profile
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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