Stockbridge Partners LLC raised its position in Mplx Lp (NYSE:MPLX) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,497,456 shares of the pipeline company’s stock after buying an additional 364,351 shares during the period. Mplx accounts for 9.7% of Stockbridge Partners LLC’s investment portfolio, making the stock its 2nd biggest holding. Stockbridge Partners LLC owned 1.32% of Mplx worth $192,466,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. IHT Wealth Management LLC bought a new position in Mplx in the 2nd quarter valued at $1,229,000. Ffcm LLC bought a new stake in shares of Mplx during the 2nd quarter worth $116,000. Pathstone Family Office LLC bought a new stake in shares of Mplx during the 2nd quarter worth $119,000. Saratoga Research & Investment Management bought a new stake in shares of Mplx during the 3rd quarter worth $192,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Mplx during the 2nd quarter worth $191,000. Institutional investors own 64.33% of the company’s stock.
In other Mplx news, VP C Corwin Bromley sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $86,250.00. Following the transaction, the vice president now owns 123,705 shares in the company, valued at $4,267,822.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory Scott Floerke sold 2,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $36.00, for a total transaction of $72,000.00. Following the completion of the transaction, the vice president now owns 79,598 shares in the company, valued at approximately $2,865,528. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $487,670 in the last 90 days.
A number of research firms have recently issued reports on MPLX. Stifel Nicolaus dropped their price objective on shares of Mplx from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, October 27th. BidaskClub downgraded shares of Mplx from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Jefferies Group dropped their price objective on shares of Mplx from $42.00 to $41.00 and set a “buy” rating for the company in a report on Monday, August 28th. Mizuho reaffirmed a “buy” rating and set a $40.00 price objective on shares of Mplx in a report on Friday, October 20th. Finally, Barclays reiterated a “buy” rating and issued a $39.00 target price on shares of Mplx in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.67.
Shares of Mplx Lp (MPLX) traded down $0.75 during trading hours on Thursday, reaching $35.69. 1,114,200 shares of the company were exchanged, compared to its average volume of 1,411,181. The stock has a market cap of $15,136.19, a PE ratio of 40.04, a PEG ratio of 4.97 and a beta of 1.36. Mplx Lp has a one year low of $30.88 and a one year high of $39.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.48 and a current ratio of 0.54.
Mplx (NYSE:MPLX) last issued its earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $965.07 million. Mplx had a net margin of 16.79% and a return on equity of 5.87%. The firm’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. equities research analysts predict that Mplx Lp will post 1.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were given a $0.5875 dividend. This is a boost from Mplx’s previous quarterly dividend of $0.56. The ex-dividend date was Friday, November 3rd. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.58%. Mplx’s payout ratio is presently 258.24%.
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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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