Stockbridge Partners LLC grew its position in shares of Mplx Lp (NYSE:MPLX) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,497,456 shares of the pipeline company’s stock after acquiring an additional 364,351 shares during the period. Mplx comprises 9.7% of Stockbridge Partners LLC’s portfolio, making the stock its 2nd largest position. Stockbridge Partners LLC owned 1.32% of Mplx worth $192,466,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Castleton Investment Management LLC purchased a new stake in Mplx in the third quarter worth approximately $700,000. Allianz Asset Management GmbH raised its position in Mplx by 153.1% in the third quarter. Allianz Asset Management GmbH now owns 130,389 shares of the pipeline company’s stock worth $4,565,000 after acquiring an additional 78,869 shares during the period. Stifel Financial Corp raised its position in shares of Mplx by 5.7% during the 3rd quarter. Stifel Financial Corp now owns 135,591 shares of the pipeline company’s stock valued at $4,749,000 after purchasing an additional 7,279 shares during the period. Cadence Capital Management LLC bought a new stake in shares of Mplx during the 3rd quarter valued at $12,098,000. Finally, HITE Hedge Asset Management LLC raised its position in shares of Mplx by 25.2% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 43,965 shares of the pipeline company’s stock valued at $1,539,000 after purchasing an additional 8,850 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.
In other Mplx news, VP Gregory Scott Floerke sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $34.69, for a total transaction of $138,760.00. Following the sale, the vice president now owns 83,598 shares of the company’s stock, valued at $2,900,014.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 8,000 shares of company stock worth $284,760.
Shares of Mplx Lp (MPLX) traded down $1.83 during mid-day trading on Friday, reaching $36.11. 6,546,911 shares of the company’s stock traded hands, compared to its average volume of 1,441,874. The company has a current ratio of 0.54, a quick ratio of 0.48 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $15,759.25, a price-to-earnings ratio of 41.69, a PEG 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 data on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $980.00 million during the quarter, compared to analyst estimates of $965.07 million. Mplx had a net margin of 22.14% and a return on equity of 4.45%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. sell-side analysts anticipate that Mplx Lp will post 1.05 EPS for the current fiscal year.
MPLX has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “buy” rating and issued a $46.00 price objective on shares of Mplx in a research note on Wednesday, November 15th. Stifel Nicolaus reaffirmed a “buy” rating and set a $42.00 price target (down from $43.00) on shares of Mplx in a research note on Tuesday, September 5th. BidaskClub lowered shares of Mplx from a “sell” rating to a “strong sell” rating in a report on Friday, October 13th. UBS boosted their price target on shares of Mplx from $43.00 to $44.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Mizuho reiterated a “buy” rating and set a $40.00 price objective on shares of Mplx in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price 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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