Mplx Lp (MPLX) VP Sells $173,250.00 in Stock
Mplx Lp (NYSE:MPLX) VP C Corwin Bromley sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $34.65, for a total value of $173,250.00. Following the completion of the sale, the vice president now directly owns 123,705 shares of the company’s stock, valued at approximately $4,286,378.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
C Corwin Bromley also recently made the following trade(s):
- On Thursday, September 14th, C Corwin Bromley sold 500 shares of Mplx Lp stock. The stock was sold at an average price of $34.82, for a total value of $17,410.00.
- 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.
Shares of Mplx Lp (NYSE:MPLX) traded up 0.86% during trading on Friday, hitting $35.13. The company had a trading volume of 2,939,930 shares. The stock’s 50-day moving average price is $34.23 and its 200 day moving average price is $34.87. The company has a market capitalization of $13.65 billion, a P/E ratio of 41.97 and a beta of 1.36. Mplx Lp has a 52 week low of $30.09 and a 52 week high of $39.43.
Mplx Lp (NYSE:MPLX) last announced its earnings results on Thursday, July 27th. The pipeline company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. The firm had revenue of $916.00 million during 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 quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS. On average, equities research analysts forecast that Mplx Lp will post $0.96 earnings per share for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Ffcm LLC purchased a new position in Mplx Lp during the 2nd quarter valued at $116,000. Pathstone Family Office LLC purchased a new position in Mplx Lp during the 2nd quarter valued at $119,000. Cedar Wealth Management LLC boosted its holdings in Mplx Lp by 17.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock valued at $183,000 after acquiring an additional 820 shares during the period. Tower Research Capital LLC TRC purchased a new position in Mplx Lp during the 2nd quarter valued at $191,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Mplx Lp during the 1st quarter valued at $198,000. Institutional investors own 66.17% of the company’s stock.
Several brokerages have weighed in on MPLX. BidaskClub upgraded Mplx Lp from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Guggenheim began coverage on Mplx Lp in a research report on Thursday, July 20th. They issued a “buy” rating and a $40.00 price objective for the company. Royal Bank Of Canada reiterated a “buy” rating on shares of Mplx Lp in a research report on Friday, July 28th. Scotiabank set a $44.00 price objective on Mplx Lp and gave the company a “buy” rating in a research report on Saturday, July 22nd. Finally, Zacks Investment Research downgraded Mplx Lp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Mplx Lp has an average rating of “Buy” and an average price target of $42.25.
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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