C.V. Starr & Co. Inc. Trust grew its position in shares of Mplx Lp (NYSE:MPLX) by 150.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 491,300 shares of the pipeline company’s stock after buying an additional 295,100 shares during the period. Mplx makes up 6.0% of C.V. Starr & Co. Inc. Trust’s holdings, making the stock its 3rd biggest position. C.V. Starr & Co. Inc. Trust’s holdings in Mplx were worth $13,761,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Diversified Trust Co grew its position in Mplx by 25.3% in the third quarter. Diversified Trust Co now owns 64,535 shares of the pipeline company’s stock valued at $1,808,000 after acquiring an additional 13,033 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in Mplx by 40.2% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,644 shares of the pipeline company’s stock valued at $550,000 after acquiring an additional 5,630 shares during the last quarter. Advantage Investment Management LLC bought a new position in Mplx in the third quarter valued at about $28,000. Chickasaw Capital Management LLC grew its position in Mplx by 41.7% in the third quarter. Chickasaw Capital Management LLC now owns 8,363,133 shares of the pipeline company’s stock valued at $234,251,000 after acquiring an additional 2,462,967 shares during the last quarter. Finally, Lenox Wealth Advisors LLC bought a new position in Mplx in the third quarter valued at about $72,000. Hedge funds and other institutional investors own 23.25% of the company’s stock.
Shares of MPLX stock traded up $0.18 during mid-day trading on Friday, reaching $26.98. 1,899,933 shares of the stock traded hands, compared to its average volume of 2,711,870. The stock’s fifty day simple moving average is $28.33 and its two-hundred day simple moving average is $30.55. Mplx Lp has a 1-year low of $25.85 and a 1-year high of $35.85. The company has a market cap of $28.60 billion, a price-to-earnings ratio of 11.78 and a beta of 1.10. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 2.07.
MPLX has been the topic of a number of recent analyst reports. Credit Suisse Group reiterated an “outperform” rating and issued a $33.00 target price (down previously from $38.00) on shares of Mplx in a research report on Monday, August 12th. Raymond James decreased their target price on Mplx from $34.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday. ValuEngine upgraded Mplx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $35.00 target price on shares of Mplx in a research report on Tuesday, September 3rd. Finally, Citigroup decreased their target price on Mplx from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $35.73.
In related news, Director Garry L. Peiffer acquired 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $27.15 per share, with a total value of $488,700.00. Following the completion of the purchase, the director now directly owns 14,302 shares in the company, valued at $388,299.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Garry L. Peiffer acquired 18,800 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $27.30 per share, for a total transaction of $513,240.00. Following the completion of the purchase, the director now owns 14,302 shares of the company’s stock, valued at $390,444.60. The disclosure for this purchase can be found here. Insiders have bought 79,400 shares of company stock worth $2,159,808 over the last three months.
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.
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