C Corwin Bromley Sells 500 Shares of Mplx Lp (MPLX) Stock
Mplx Lp (NYSE:MPLX) VP C Corwin Bromley sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $34.82, for a total value of $17,410.00. Following the sale, the vice president now directly owns 123,705 shares of the company’s stock, valued at $4,307,408.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
C Corwin Bromley also recently made the following trade(s):
- On Wednesday, September 13th, C Corwin Bromley sold 2,500 shares of Mplx Lp stock. The stock was sold at an average price of $34.50, for a total value of $86,250.00.
- On Friday, September 15th, C Corwin Bromley sold 5,000 shares of Mplx Lp stock. The stock was sold at an average price of $34.65, for a total value of $173,250.00.
Shares of Mplx Lp (MPLX) traded up 0.86% on Friday, reaching $35.13. The company had a trading volume of 2,939,930 shares. The firm’s 50 day moving average is $34.20 and its 200 day moving average is $34.85. The firm has a market capitalization of $13.65 billion, a PE ratio of 41.97 and a beta of 1.36. Mplx Lp has a 12 month low of $30.09 and a 12 month high of $39.43.
Mplx Lp (NYSE:MPLX) last announced its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.10. The business had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $884.70 million. Mplx Lp had a return on equity of 6.13% and a net margin of 19.07%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share. On average, equities research analysts expect that Mplx Lp will post $0.96 earnings per share for the current fiscal year.
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MPLX has been the subject of a number of research analyst reports. Zacks Investment Research raised Mplx Lp from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. BidaskClub raised Mplx Lp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Jefferies Group LLC decreased their price target on Mplx Lp from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, August 28th. Scotiabank set a $44.00 price target on Mplx Lp and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $42.00 price target (down from $43.00) on shares of Mplx Lp in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Mplx Lp has a consensus rating of “Buy” and a consensus target price of $42.25.
Several hedge funds and other institutional investors have recently made changes to their positions in MPLX. IHT Wealth Management LLC purchased a new position in Mplx Lp in the second quarter valued at $1,229,000. Ffcm LLC purchased a new position in Mplx Lp in the second quarter valued at $116,000. Pathstone Family Office LLC purchased a new position in Mplx Lp in the second quarter valued at $119,000. Private Advisor Group LLC purchased a new position in Mplx Lp in the first quarter valued at $201,000. Finally, Cedar Wealth Management LLC increased its holdings in Mplx Lp by 17.6% in the second quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock valued at $183,000 after buying an additional 820 shares during the last quarter. Institutional investors and hedge funds own 66.17% of the company’s stock.
Mplx Lp Company Profile
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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