Neuberger Berman Group LLC lowered its holdings in shares of Mplx Lp (NYSE:MPLX) by 13.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,971,079 shares of the pipeline company’s stock after selling 464,429 shares during the quarter. Neuberger Berman Group LLC owned 0.72% of Mplx worth $104,017,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Beach Investment Management LLC. acquired a new stake in Mplx in the 2nd quarter valued at approximately $1,061,000. First Trust Advisors LP acquired a new stake in Mplx in the 2nd quarter valued at approximately $5,064,000. Advisors Asset Management Inc. raised its position in Mplx by 87.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 40,088 shares of the pipeline company’s stock valued at $1,339,000 after buying an additional 18,722 shares during the last quarter. SG Americas Securities LLC raised its position in Mplx by 7.1% in the 2nd quarter. SG Americas Securities LLC now owns 7,052 shares of the pipeline company’s stock valued at $236,000 after buying an additional 466 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in Mplx by 10.7% in the 2nd quarter. Proficio Capital Partners LLC now owns 8,337 shares of the pipeline company’s stock valued at $304,000 after buying an additional 806 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors.
Mplx Lp (NYSE MPLX) opened at $36.11 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.54 and a quick ratio of 0.48. The firm has a market capitalization of $15,759.25, a P/E ratio of 41.69, a price-to-earnings-growth ratio of 5.17 and a beta of 1.36. Mplx Lp has a one year low of $30.88 and a one year high of $39.43.
Mplx (NYSE:MPLX) last posted its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The firm had revenue of $980.00 million during the quarter, compared to the consensus estimate of $965.07 million. Mplx had a return on equity of 4.45% and a net margin of 22.14%. The business’s revenue was up 16.9% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. equities research analysts predict that Mplx Lp will post 1.05 EPS for the current year.
In other Mplx news, VP Gregory Scott Floerke sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $37.00, for a total value of $74,000.00. Following the completion of the transaction, the vice president now directly owns 77,598 shares in the company, valued at $2,871,126. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 8,000 shares of company stock valued at $284,760.
A number of equities research analysts recently issued reports on the company. Jefferies Group dropped their target price on Mplx from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, August 28th. Mizuho reissued a “buy” rating and issued a $40.00 target price on shares of Mplx in a research report on Friday, October 20th. Scotiabank reissued a “buy” rating and issued a $44.00 target price on shares of Mplx in a research report on Wednesday, October 4th. BidaskClub lowered Mplx from a “sell” rating to a “strong sell” rating in a research report on Friday, October 13th. Finally, UBS lifted their target price on Mplx from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $41.91.
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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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