Forsta AP Fonden Has $12.15 Million Holdings in Mplx Lp (MPLX)
Forsta AP Fonden raised its position in shares of Mplx Lp (NYSE:MPLX) by 21.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 346,900 shares of the pipeline company’s stock after purchasing an additional 62,100 shares during the quarter. Forsta AP Fonden owned 0.09% of Mplx Lp worth $12,145,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in shares of Mplx Lp by 36.3% in the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock worth $208,220,000 after acquiring an additional 1,661,578 shares during the period. Balyasny Asset Management LLC grew its stake in shares of Mplx Lp by 351.2% in the second quarter. Balyasny Asset Management LLC now owns 1,633,092 shares of the pipeline company’s stock worth $54,545,000 after acquiring an additional 1,271,145 shares during the period. Alps Advisors Inc. grew its stake in shares of Mplx Lp by 5.3% in the second quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock worth $669,879,000 after acquiring an additional 1,015,105 shares during the period. American International Group Inc. bought a new stake in shares of Mplx Lp in the first quarter worth approximately $567,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Mplx Lp by 9.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,812,175 shares of the pipeline company’s stock worth $127,327,000 after acquiring an additional 327,092 shares during the period. Institutional investors and hedge funds own 63.19% of the company’s stock.
MPLX has been the subject of a number of research analyst reports. Scotiabank reiterated a “buy” rating and issued a $44.00 price target on shares of Mplx Lp in a research note on Wednesday, October 4th. Zacks Investment Research lowered shares of Mplx Lp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. UBS AG lifted their price target on shares of Mplx Lp from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. BidaskClub lowered shares of Mplx Lp from a “sell” rating to a “strong sell” rating in a research note on Friday, October 13th. Finally, Barclays PLC reiterated a “buy” rating and issued a $39.00 price target on shares of Mplx Lp in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.75.
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Mplx Lp (NYSE MPLX) traded down $0.13 on Friday, hitting $34.12. 1,670,881 shares of the company were exchanged, compared to its average volume of 1,331,749. The company has a quick ratio of 0.99, a current ratio of 0.54 and a debt-to-equity ratio of 0.68. The company has a market cap of $13,888.38, a PE ratio of 37.49, a P/E/G ratio of 4.24 and a beta of 1.35.
Mplx Lp (NYSE:MPLX) last posted its quarterly earnings data on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Mplx Lp had a net margin of 16.79% and a return on equity of 5.87%. The company had revenue of $980.00 million during the quarter, compared to the consensus estimate of $965.07 million. During the same period in the prior year, the business posted $0.21 EPS. The company’s quarterly revenue was up 16.9% on a year-over-year basis. analysts forecast that Mplx Lp will post 1.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be paid a $0.5875 dividend. This is an increase from Mplx Lp’s previous quarterly dividend of $0.56. This represents a $2.35 annualized dividend and a yield of 6.89%. The ex-dividend date is Friday, November 3rd. Mplx Lp’s dividend payout ratio (DPR) is 247.26%.
In related news, VP C Corwin Bromley sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $34.65, for a total value of $173,250.00. Following the completion of the sale, the vice president now directly owns 123,705 shares in the company, valued at approximately $4,286,378.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 8,000 shares of company stock valued at $276,910 over the last quarter.
Mplx Lp 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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