GSA Capital Partners LLP Sells 5,885 Shares of MPLX LP (MPLX)
GSA Capital Partners LLP trimmed its holdings in MPLX LP (NYSE:MPLX) by 20.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,437 shares of the pipeline company’s stock after selling 5,885 shares during the quarter. GSA Capital Partners LLP’s holdings in MPLX were worth $783,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. increased its holdings in shares of MPLX by 5.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock valued at $669,879,000 after acquiring an additional 1,015,105 shares during the period. Tortoise Capital Advisors L.L.C. increased its holdings in shares of MPLX by 1.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock valued at $638,129,000 after acquiring an additional 202,094 shares during the period. Atlantic Trust Group LLC increased its holdings in shares of MPLX by 2.9% in the 2nd quarter. Atlantic Trust Group LLC now owns 6,753,284 shares of the pipeline company’s stock valued at $225,561,000 after acquiring an additional 187,807 shares during the period. Bank of Montreal Can increased its holdings in shares of MPLX by 36.3% in the 2nd quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock valued at $208,220,000 after acquiring an additional 1,661,578 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of MPLX by 130.8% in the 1st quarter. Bank of America Corp DE now owns 6,196,080 shares of the pipeline company’s stock valued at $223,555,000 after acquiring an additional 3,511,264 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.
MPLX has been the topic of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $42.00 target price (down from $43.00) on shares of MPLX in a report on Tuesday, September 5th. BidaskClub raised shares of MPLX from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Jefferies Group LLC cut their target price on shares of MPLX from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, August 28th. Scotiabank set a $44.00 target price on shares of MPLX and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of MPLX in a 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 issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $42.25.
In other MPLX news, VP C Corwin Bromley sold 5,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $34.65, for a total value of $173,250.00. Following the sale, the vice president now directly owns 123,705 shares of the company’s stock, valued at $4,286,378.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 8,000 shares of company stock worth $276,910 over the last ninety days.
MPLX LP (NYSE:MPLX) opened at 35.54 on Thursday. The firm has a 50-day moving average of $34.23 and a 200 day moving average of $34.65. The firm has a market capitalization of $13.81 billion, a PE ratio of 42.46 and a beta of 1.36. MPLX LP has a 52 week low of $30.09 and a 52 week high of $39.43.
MPLX (NYSE:MPLX) last issued its earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share 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 analyst estimates of $884.70 million. During the same period last year, the company earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. Analysts predict that MPLX LP will post $0.98 earnings per share for the current year.
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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