Barings LLC boosted its stake in shares of MPLX LP (NYSE:MPLX) by 62.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,575 shares of the pipeline company’s stock after buying an additional 28,200 shares during the period. Barings LLC’s holdings in MPLX were worth $2,655,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Brookfield Asset Management Inc. raised its position in shares of MPLX by 25.9% in the fourth quarter. Brookfield Asset Management Inc. now owns 1,308,697 shares of the pipeline company’s stock valued at $45,307,000 after buying an additional 269,060 shares during the period. Quadrature Capital Ltd bought a new position in shares of MPLX during the fourth quarter worth $3,952,000. Infrastructure Capital Advisors LLC bought a new position in shares of MPLX during the fourth quarter worth $12,993,000. Westwood Holdings Group Inc. raised its position in shares of MPLX by 0.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 734,321 shares of the pipeline company’s stock worth $25,422,000 after buying an additional 6,533 shares during the last quarter. Finally, Castleark Management LLC raised its position in shares of MPLX by 9.9% in the fourth quarter. Castleark Management LLC now owns 201,749 shares of the pipeline company’s stock worth $6,985,000 after buying an additional 18,220 shares during the last quarter. 69.05% of the stock is owned by institutional investors.
Shares of MPLX LP (MPLX) traded up 0.06% during midday trading on Thursday, hitting $31.12. 1,368,088 shares of the stock were exchanged. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 64.16 and a beta of 1.34. MPLX LP has a 1-year low of $30.09 and a 1-year high of $39.43. The firm’s 50 day moving average is $34.09 and its 200-day moving average is $35.51.
MPLX (NYSE:MPLX) last released its quarterly earnings results on Thursday, April 27th. The pipeline company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. MPLX had a net margin of 13.85% and a return on equity of 4.01%. The business had revenue of $886 million for the quarter, compared to analysts’ expectations of $691.38 million. During the same period in the previous year, the company earned ($0.33) earnings per share. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. On average, analysts predict that MPLX LP will post $0.94 EPS for the current year.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of MPLX from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. TheStreet raised shares of MPLX from a “c” rating to a “b-” rating in a research note on Friday, April 28th. FBR & Co reaffirmed a “hold” rating on shares of MPLX in a research note on Thursday, March 2nd. Citigroup Inc. upped their target price on shares of MPLX from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, April 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $44.00 target price on shares of MPLX in a research note on Wednesday, April 19th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $42.10.
In other news, CEO Gary R. Heminger purchased 9,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average cost of $33.26 per share, for a total transaction of $299,340.00. Following the completion of the acquisition, the chief executive officer now owns 167,896 shares in the company, valued at $5,584,220.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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