Starr International Co. Inc. increased its stake in shares of Mplx Lp (NYSE:MPLX) by 115.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 328,525 shares of the pipeline company’s stock after acquiring an additional 175,925 shares during the quarter. Mplx comprises approximately 4.0% of Starr International Co. Inc.’s holdings, making the stock its 7th largest holding. Starr International Co. Inc.’s holdings in Mplx were worth $9,202,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Mcmillion Capital Management Inc. bought a new stake in Mplx in the 2nd quarter valued at $113,000. Berman Capital Advisors LLC increased its holdings in Mplx by 146.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 975 shares of the pipeline company’s stock valued at $30,000 after buying an additional 579 shares during the period. GYL Financial Synergies LLC bought a new stake in Mplx in the 1st quarter valued at $1,843,000. XR Securities LLC bought a new stake in Mplx in the 2nd quarter valued at $364,000. Finally, Virtus ETF Advisers LLC bought a new stake in shares of Mplx in the 2nd quarter worth about $2,430,000. 23.25% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Garry L. Peiffer purchased 18,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $27.15 per share, with a total value of $488,700.00. Following the purchase, the director now directly owns 14,302 shares in the company, valued at approximately $388,299.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Garry L. Peiffer purchased 18,800 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $27.30 per share, with a total value of $513,240.00. Following the completion of the purchase, the director now owns 14,302 shares in the company, valued at $390,444.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 79,400 shares of company stock valued at $2,159,808.
Shares of MPLX stock traded up $0.18 on Friday, reaching $26.98. The company had a trading volume of 1,899,933 shares, compared to its average volume of 2,711,870. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 2.07. The stock has a market cap of $28.60 billion, a PE ratio of 11.78 and a beta of 1.10. The company has a 50-day moving average of $28.33 and a 200-day moving average of $30.55. Mplx Lp has a 12 month low of $25.85 and a 12 month high of $35.85.
Mplx (NYSE:MPLX) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.66 billion. Mplx had a net margin of 28.78% and a return on equity of 27.94%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. Sell-side analysts anticipate that Mplx Lp will post 2.46 earnings per share for the current year.
Several equities research analysts have recently weighed in on MPLX shares. Raymond James lowered their target price on shares of Mplx from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday. Citigroup lowered their target price on shares of Mplx from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Barclays reiterated an “overweight” rating and set a $33.00 price target on shares of Mplx in a research report on Monday, August 19th. Scotiabank began coverage on shares of Mplx in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $36.00 target price on the stock. Finally, ValuEngine upgraded shares of Mplx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. Mplx currently has a consensus rating of “Buy” and an average target price of $35.73.
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.
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