Parametric Portfolio Associates LLC Trims Stake in MPLX LP (MPLX)
Parametric Portfolio Associates LLC trimmed its stake in shares of MPLX LP (NYSE:MPLX) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 733,074 shares of the pipeline company’s stock after selling 26,129 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.19% of MPLX worth $24,485,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in MPLX. Waldron LP bought a new stake in shares of MPLX during the first quarter worth $220,000. Bank of New York Mellon Corp lifted its stake in shares of MPLX by 45.4% during the first quarter. Bank of New York Mellon Corp now owns 171,047 shares of the pipeline company’s stock valued at $6,172,000 after acquiring an additional 53,438 shares during the period. Mutual of America Capital Management LLC boosted its holdings in MPLX by 4.7% in the first quarter. Mutual of America Capital Management LLC now owns 20,768 shares of the pipeline company’s stock valued at $749,000 after acquiring an additional 937 shares during the last quarter. Keybank National Association OH boosted its holdings in MPLX by 3.3% in the first quarter. Keybank National Association OH now owns 8,735 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 275 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in MPLX in the first quarter valued at about $198,000. Institutional investors own 63.16% of the company’s stock.
Shares of MPLX LP (MPLX) opened at 35.45 on Tuesday. The company has a 50 day moving average of $34.12 and a 200-day moving average of $34.65. MPLX LP has a 12 month low of $30.09 and a 12 month high of $39.43. The firm has a market capitalization of $13.77 billion, a P/E ratio of 42.35 and a beta of 1.36.
MPLX (NYSE:MPLX) last announced its earnings results on Thursday, July 27th. The pipeline company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. MPLX had a return on equity of 6.13% and a net margin of 19.07%. The firm had revenue of $916.00 million for the quarter, compared to the consensus estimate of $884.70 million. During the same period in the previous year, the business earned ($0.11) EPS. The business’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.
In other news, VP C Corwin Bromley sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $34.50, for a total transaction of $86,250.00. Following the completion of the transaction, the vice president now directly owns 123,705 shares in the company, valued at $4,267,822.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 8,000 shares of company stock valued at $276,910.
A number of analysts recently commented on the company. BidaskClub lowered MPLX from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Zacks Investment Research downgraded shares of MPLX from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 15th. Guggenheim started coverage on shares of MPLX in a research report on Thursday, July 20th. They set a “buy” rating and a $40.00 target price on the stock. Royal Bank Of Canada reaffirmed a “buy” rating on shares of MPLX in a research note on Friday, July 28th. Finally, Scotiabank set a $44.00 target price on shares of MPLX and gave the company a “buy” rating in a research note on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $42.25.
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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