Westwood Holdings Group Inc. lessened its stake in Mplx Lp (NYSE:MPLX) by 4.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 776,166 shares of the pipeline company’s stock after selling 32,159 shares during the period. Westwood Holdings Group Inc. owned about 0.20% of Mplx Lp worth $25,924,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of MPLX. Ffcm LLC bought a new stake in shares of Mplx Lp in the second quarter worth $116,000. Pathstone Family Office LLC bought a new stake in shares of Mplx Lp in the second quarter worth $119,000. Cedar Wealth Management LLC increased its stake in Mplx Lp by 17.6% during the second quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock valued at $183,000 after purchasing an additional 820 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Mplx Lp during the second quarter valued at $191,000. Finally, Ameritas Investment Partners Inc. bought a new stake in Mplx Lp during the first quarter valued at $198,000. Institutional investors and hedge funds own 63.16% of the company’s stock.
Several research firms have weighed in on MPLX. BidaskClub upgraded shares of Mplx Lp from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Jefferies Group LLC lowered their target price on shares of Mplx Lp from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, August 28th. Guggenheim began coverage on shares of Mplx Lp in a research note on Thursday, July 20th. They set a “buy” rating and a $40.00 target price for the company. Scotiabank reiterated a “buy” rating and set a $44.00 target price on shares of Mplx Lp in a research note on Wednesday, October 4th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Mplx Lp in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Mplx Lp has a consensus rating of “Buy” and an average price target of $42.25.
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In other news, VP C Corwin Bromley sold 5,000 shares of the firm’s 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 completion of the sale, the vice president now directly owns 123,705 shares in the company, valued at $4,286,378.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 8,000 shares of company stock valued at $276,910.
Shares of Mplx Lp (NYSE:MPLX) traded down 1.73% during trading on Friday, hitting $34.13. 417,323 shares of the stock traded hands. Mplx Lp has a 52 week low of $30.09 and a 52 week high of $39.43. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 40.78 and a beta of 1.36. The firm’s 50-day moving average price is $34.63 and its 200-day moving average price is $34.65.
Mplx Lp (NYSE:MPLX) last announced its earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. Mplx Lp had a return on equity of 6.13% and a net margin of 19.07%. The company had revenue of $916.00 million during the quarter, compared to analyst estimates of $884.70 million. During the same period last year, the company posted ($0.11) earnings per share. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts anticipate that Mplx Lp will post $0.98 earnings per share for the current year.
About Mplx Lp
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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