Bank of Montreal Can trimmed its position in Mplx Lp (NYSE:MPLX) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,071,757 shares of the pipeline company’s stock after selling 611,740 shares during the quarter. Bank of Montreal Can owned 0.64% of Mplx worth $175,888,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SL Advisors LLC acquired a new position in Mplx in the 3rd quarter valued at $203,000. Walnut Private Equity Partners LLC grew its holdings in Mplx by 36.8% in the 3rd quarter. Walnut Private Equity Partners LLC now owns 48,346 shares of the pipeline company’s stock valued at $1,677,000 after buying an additional 13,000 shares in the last quarter. Northern Trust Corp grew its holdings in Mplx by 78.7% in the 2nd quarter. Northern Trust Corp now owns 386,474 shares of the pipeline company’s stock valued at $13,193,000 after buying an additional 170,158 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. grew its holdings in Mplx by 15.8% in the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 2,268,643 shares of the pipeline company’s stock valued at $77,451,000 after buying an additional 309,316 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in Mplx by 2.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 288,642 shares of the pipeline company’s stock valued at $9,854,000 after buying an additional 7,200 shares in the last quarter. 31.21% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on MPLX shares. Stifel Nicolaus upped their price objective on Mplx from $42.00 to $44.00 and gave the company a “buy” rating in a report on Friday, July 27th. ValuEngine lowered Mplx from a “sell” rating to a “strong sell” rating in a report on Monday, July 16th. Credit Suisse Group started coverage on Mplx in a report on Thursday. They issued an “outperform” rating and a $45.00 price objective on the stock. Goldman Sachs Group lowered Mplx from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Monday, October 8th. Finally, Jefferies Financial Group raised Mplx from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. Mplx has an average rating of “Hold” and a consensus target price of $40.69.
MPLX opened at $35.08 on Friday. The firm has a market cap of $27.54 billion, a PE ratio of 33.09, a P/E/G ratio of 2.50 and a beta of 1.39. Mplx Lp has a 52-week low of $31.60 and a 52-week high of $39.38. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71.
Mplx (NYSE:MPLX) last released its earnings results on Thursday, July 26th. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.31 billion. Mplx had a return on equity of 14.43% and a net margin of 24.22%. The business’s revenue for the quarter was up 72.3% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. Equities analysts forecast that Mplx Lp will post 2.31 earnings per share for the current year.
MPLX LP is a fee-based, growth-oriented limited partnership company. It is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids; and the gathering, transportation and storage of crude oil and refined petroleum products.
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