California Public Employees Retirement System Sells 3,600 Shares of MPLX LP (MPLX)
California Public Employees Retirement System decreased its position in shares of MPLX LP (NYSE:MPLX) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 516,762 shares of the pipeline company’s stock after selling 3,600 shares during the quarter. California Public Employees Retirement System owned approximately 0.13% of MPLX worth $17,260,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Keybank National Association OH increased its holdings in MPLX by 2.8% during the second quarter. Keybank National Association OH now owns 8,980 shares of the pipeline company’s stock valued at $300,000 after buying an additional 245 shares during the period. Signaturefd LLC raised its stake in MPLX by 4.1% in the first quarter. Signaturefd LLC now owns 6,895 shares of the pipeline company’s stock worth $249,000 after buying an additional 270 shares in the last quarter. BB&T Securities LLC raised its stake in MPLX by 6.2% in the second quarter. BB&T Securities LLC now owns 6,209 shares of the pipeline company’s stock worth $207,000 after buying an additional 360 shares in the last quarter. Suntrust Banks Inc. raised its stake in MPLX by 4.9% in the first quarter. Suntrust Banks Inc. now owns 8,016 shares of the pipeline company’s stock worth $289,000 after buying an additional 378 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in MPLX by 2.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,831 shares of the pipeline company’s stock worth $462,000 after buying an additional 390 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.
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In related news, VP C Corwin Bromley sold 5,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $34.65, for a total transaction of $173,250.00. Following the completion of the transaction, the vice president now owns 123,705 shares in the company, valued at $4,286,378.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 8,000 shares of company stock valued at $276,910.
MPLX LP (MPLX) opened at 35.01 on Monday. MPLX LP has a 12 month low of $30.09 and a 12 month high of $39.43. The company’s 50-day moving average price is $34.13 and its 200 day moving average price is $34.77. The firm has a market capitalization of $13.60 billion, a price-to-earnings ratio of 41.83 and a beta of 1.36.
MPLX (NYSE:MPLX) last announced its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 EPS for the quarter, beating the Zacks’ 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 company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $884.70 million. During the same period in the prior year, the firm posted ($0.11) EPS. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. Analysts predict that MPLX LP will post $0.98 EPS for the current year.
A number of analysts have weighed in on the company. BidaskClub upgraded MPLX from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Zacks Investment Research downgraded MPLX from a “hold” rating to a “strong sell” rating in a report on Saturday, July 15th. Guggenheim assumed coverage on MPLX in a report on Thursday, July 20th. They issued a “buy” rating and a $40.00 price target on the stock. Scotiabank set a $44.00 price target on MPLX and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of MPLX in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $42.25.
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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