Comerica Bank Has $358,000 Stake in MPLX LP (MPLX)
Comerica Bank lifted its position in shares of MPLX LP (NYSE:MPLX) by 10.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,949 shares of the pipeline company’s stock after purchasing an additional 927 shares during the period. Comerica Bank’s holdings in MPLX were worth $358,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Cedar Wealth Management LLC lifted its holdings in MPLX by 17.6% in the second quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock worth $183,000 after buying an additional 820 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in MPLX in the first quarter worth about $198,000. Private Advisor Group LLC purchased a new stake in MPLX in the first quarter worth about $201,000. Waldron LP purchased a new stake in MPLX in the first quarter worth about $220,000. Finally, Pinnacle Associates Ltd. lifted its holdings in MPLX by 5.8% in the first quarter. Pinnacle Associates Ltd. now owns 6,170 shares of the pipeline company’s stock worth $223,000 after buying an additional 337 shares during the period. Institutional investors own 63.13% of the company’s stock.
MPLX LP (NYSE:MPLX) opened at 35.17 on Thursday. MPLX LP has a 12-month low of $30.09 and a 12-month high of $39.43. The stock’s 50 day moving average is $34.13 and its 200 day moving average is $34.77. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 42.02 and a beta of 1.36.
MPLX (NYSE:MPLX) last announced its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.10. MPLX had a net margin of 19.07% and a return on equity of 6.13%. The firm had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $884.70 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The company’s revenue was up 31.2% compared to the same quarter last year. Equities analysts predict that MPLX LP will post $0.96 earnings per share for the current fiscal year.
Several analysts have commented on the stock. BidaskClub lowered shares of MPLX from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research lowered shares of MPLX from a “hold” rating to a “strong sell” rating in a report on Saturday, July 15th. Guggenheim assumed coverage on shares of MPLX in a report on Thursday, July 20th. They issued a “buy” rating and a $40.00 price objective for the company. Royal Bank Of Canada restated a “buy” rating on shares of MPLX in a report on Friday, July 28th. Finally, Scotiabank set a $44.00 price objective on shares of MPLX and gave the stock a “buy” rating in a report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $42.25.
In other news, VP C Corwin Bromley sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $86,250.00. Following the completion of the sale, the vice president now owns 123,705 shares of the company’s stock, valued at approximately $4,267,822.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 8,000 shares of company stock valued at $276,910 in the last ninety days.
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.
Want to see what other hedge funds are holding MPLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MPLX LP (NYSE:MPLX).
Receive News & Stock Ratings for MPLX LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MPLX LP and related stocks with our FREE daily email newsletter.