Keybank National Association OH grew its stake in MPLX LP (NYSE:MPLX) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,980 shares of the pipeline company’s stock after acquiring an additional 245 shares during the quarter. Keybank National Association OH’s holdings in MPLX were worth $300,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MPLX. Signaturefd LLC grew its position in shares of MPLX by 4.1% in the 1st quarter. Signaturefd LLC now owns 6,895 shares of the pipeline company’s stock valued at $249,000 after purchasing an additional 270 shares during the period. Pinnacle Associates Ltd. grew its position in shares of MPLX by 5.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 6,170 shares of the pipeline company’s stock valued at $223,000 after purchasing an additional 337 shares during the period. BB&T Securities LLC grew its position in shares of MPLX by 6.2% in the 2nd quarter. BB&T Securities LLC now owns 6,209 shares of the pipeline company’s stock valued at $207,000 after purchasing an additional 360 shares during the period. Suntrust Banks Inc. grew its position in shares of MPLX by 4.9% in the 1st quarter. Suntrust Banks Inc. now owns 8,016 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 378 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of MPLX by 2.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 13,831 shares of the pipeline company’s stock valued at $462,000 after purchasing an additional 390 shares during the period. 66.17% of the stock is owned by institutional investors.
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MPLX has been the subject of several research analyst reports. Zacks Investment Research upgraded MPLX from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th. BidaskClub upgraded MPLX from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Guggenheim initiated coverage on MPLX in a research report on Thursday, July 20th. They issued a “buy” rating and a $40.00 price objective for the company. Scotiabank set a $44.00 price objective on MPLX and gave the company a “buy” rating in a research report on Saturday, July 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of MPLX in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $42.25.
MPLX LP (NYSE MPLX) opened at 34.81 on Friday. MPLX LP has a 52-week low of $30.09 and a 52-week high of $39.43. The firm’s 50-day moving average price is $34.23 and its 200-day moving average price is $34.87. The firm has a market cap of $13.53 billion, a P/E ratio of 41.59 and a beta of 1.36.
MPLX (NYSE:MPLX) last released its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The firm had revenue of $916.00 million during the quarter, compared to the consensus estimate of $884.70 million. MPLX 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 company posted ($0.11) earnings per share. Equities research analysts expect that MPLX LP will post $0.96 EPS for the current year.
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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