Cadence Capital Management LLC increased its holdings in shares of Mplx Lp (NYSE:MPLX) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,115,893 shares of the pipeline company’s stock after acquiring an additional 88,914 shares during the quarter. Mplx makes up about 4.2% of Cadence Capital Management LLC’s holdings, making the stock its 3rd largest position. Cadence Capital Management LLC owned about 0.11% of Mplx worth $17,564,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Advisors Capital Management LLC boosted its holdings in shares of Mplx by 0.7% in the 2nd quarter. Advisors Capital Management LLC now owns 92,546 shares of the pipeline company’s stock worth $1,599,000 after purchasing an additional 599 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Mplx by 18.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,124 shares of the pipeline company’s stock worth $71,000 after buying an additional 628 shares during the last quarter. TD Capital Management LLC boosted its stake in Mplx by 4.0% during the 2nd quarter. TD Capital Management LLC now owns 16,541 shares of the pipeline company’s stock valued at $286,000 after purchasing an additional 630 shares during the last quarter. Smith Moore & CO. boosted its stake in Mplx by 2.5% during the 2nd quarter. Smith Moore & CO. now owns 29,915 shares of the pipeline company’s stock valued at $517,000 after purchasing an additional 725 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Mplx by 6.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 14,304 shares of the pipeline company’s stock valued at $247,000 after purchasing an additional 881 shares during the last quarter. Hedge funds and other institutional investors own 28.87% of the company’s stock.
MPLX has been the topic of a number of recent analyst reports. TheStreet raised Mplx from a “d+” rating to a “c-” rating in a report on Monday, August 3rd. Morgan Stanley dropped their price target on Mplx from $21.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. ValuEngine lowered Mplx from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 1st. Citigroup lifted their price target on shares of Mplx from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Mplx in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $23.62.
NYSE MPLX traded down $0.17 on Friday, hitting $16.97. The stock had a trading volume of 1,432,250 shares, compared to its average volume of 3,988,809. The stock has a market cap of $17.97 billion, a price-to-earnings ratio of -8.53 and a beta of 1.93. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.13 and a quick ratio of 1.04. Mplx Lp has a 52-week low of $6.87 and a 52-week high of $27.50. The business’s fifty day moving average price is $17.15 and its 200 day moving average price is $17.37.
Mplx (NYSE:MPLX) last announced its quarterly earnings data on Monday, August 3rd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.95 billion. Mplx had a negative net margin of 26.44% and a positive return on equity of 17.33%. The business’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 earnings per share. As a group, sell-side analysts anticipate that Mplx Lp will post 2.39 EPS for the current year.
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, storage, and marketing of natural gas liquids; transportation, storage, distribution, and marketing of crude oil and refined petroleum products, as well as other hydrocarbon-based products, such as asphalt; and sale of residue gas and condensate.
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