Raymond James & Associates boosted its stake in shares of Mplx Lp (NYSE:MPLX) by 26.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,036 shares of the pipeline company’s stock after purchasing an additional 90,892 shares during the quarter. Raymond James & Associates owned about 0.10% of Mplx worth $15,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in Mplx in the third quarter valued at about $193,000. Stuart Chaussee & Associates Inc. purchased a new stake in Mplx in the fourth quarter valued at about $195,000. American Century Companies Inc. purchased a new position in shares of Mplx in the fourth quarter worth about $204,000. Quadrant Private Wealth Management LLC purchased a new position in shares of Mplx in the fourth quarter worth about $227,000. Finally, Pitcairn Co. purchased a new position in shares of Mplx in the fourth quarter worth about $229,000. 31.86% of the stock is currently owned by institutional investors.
MPLX has been the subject of several recent research reports. Zacks Investment Research cut Mplx from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup dropped their price objective on Mplx from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday. Mizuho set a $41.00 price objective on Mplx and gave the company a “buy” rating in a report on Wednesday. Jefferies Group lowered Mplx from a “buy” rating to a “hold” rating and set a $38.00 price objective on the stock. in a report on Monday, February 5th. Finally, Credit Suisse Group initiated coverage on Mplx in a research note on Thursday, January 4th. They issued an “outperform” rating and a $43.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $41.17.
Shares of MPLX stock traded down $0.51 on Thursday, hitting $32.62. The stock had a trading volume of 2,194,705 shares, compared to its average volume of 2,012,956. The company has a current ratio of 0.43, a quick ratio of 0.38 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $26,003.25, a PE ratio of 30.77, a P/E/G ratio of 3.03 and a beta of 1.26. Mplx Lp has a 1 year low of $30.88 and a 1 year high of $39.38.
Mplx (NYSE:MPLX) last released its earnings results on Thursday, February 1st. The pipeline company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). Mplx had a return on equity of 6.98% and a net margin of 17.90%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $937.04 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. research analysts predict that Mplx Lp will post 1.93 EPS for the current fiscal year.
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Mplx Company Profile
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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