Mplx Lp (MPLX) Shares Sold by Mariner Investment Group LLC
Mariner Investment Group LLC reduced its holdings in Mplx Lp (NYSE:MPLX) by 90.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,227 shares of the pipeline company’s stock after selling 295,973 shares during the quarter. Mplx Lp comprises 0.7% of Mariner Investment Group LLC’s portfolio, making the stock its 21st biggest holding. Mariner Investment Group LLC’s holdings in Mplx Lp were worth $1,058,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Alps Advisors Inc. grew its position in shares of Mplx Lp by 5.3% in the second quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock valued at $669,879,000 after purchasing an additional 1,015,105 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of Mplx Lp by 1.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock valued at $638,129,000 after purchasing an additional 202,094 shares during the last quarter. Atlantic Trust Group LLC grew its position in shares of Mplx Lp by 2.9% in the second quarter. Atlantic Trust Group LLC now owns 6,753,284 shares of the pipeline company’s stock valued at $225,561,000 after purchasing an additional 187,807 shares during the last quarter. Bank of Montreal Can grew its position in shares of Mplx Lp by 36.3% in the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock valued at $208,220,000 after purchasing an additional 1,661,578 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Mplx Lp by 9.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,812,175 shares of the pipeline company’s stock valued at $127,327,000 after purchasing an additional 327,092 shares during the last quarter. 63.28% of the stock is currently owned by institutional investors.
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In other news, VP C Corwin Bromley sold 5,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $34.65, for a total transaction of $173,250.00. Following the completion of the transaction, the vice president now directly owns 123,705 shares in the company, valued at approximately $4,286,378.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 8,000 shares of company stock valued at $276,910.
Several equities research analysts have recently issued reports on the company. BidaskClub raised Mplx Lp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 31st. UBS AG increased their target price on shares of Mplx Lp from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Stifel Nicolaus reduced their target price on shares of Mplx Lp from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Mizuho reiterated a “buy” rating and issued a $40.00 target price on shares of Mplx Lp in a research note on Friday, October 20th. Finally, Barclays PLC reiterated a “buy” rating and issued a $39.00 target price on shares of Mplx Lp in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. Mplx Lp presently has an average rating of “Buy” and an average price target of $41.75.
Shares of Mplx Lp (MPLX) traded up $0.27 on Monday, reaching $34.39. 392,449 shares of the company’s stock were exchanged, compared to its average volume of 1,365,428. The stock has a market cap of $14,172.53, a P/E ratio of 37.49, a PEG ratio of 4.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.54 and a quick ratio of 0.48.
Mplx Lp (NYSE:MPLX) last released its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.07 million. Mplx Lp had a return on equity of 5.87% and a net margin of 16.79%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 EPS. research analysts predict that Mplx Lp will post 1.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.5875 per share. The ex-dividend date is Friday, November 3rd. This is a boost from Mplx Lp’s previous quarterly dividend of $0.56. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.83%. Mplx Lp’s dividend payout ratio is currently 258.24%.
Mplx Lp 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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