Bank of New York Mellon Corp raised its stake in Mplx Lp (NYSE:MPLX) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,223 shares of the company’s stock after buying an additional 6,341 shares during the period. Bank of New York Mellon Corp owned approximately 0.05% of Mplx Lp worth $5,086,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Mplx Lp by 79.3% in the first quarter. Goldman Sachs Group Inc. now owns 19,503,329 shares of the company’s stock valued at $579,054,000 after buying an additional 8,625,949 shares during the period. Bank of Montreal Can acquired a new position in shares of Mplx Lp during the second quarter valued at approximately $100,897,000. ING Groep NV raised its position in shares of Mplx Lp by 69.7% in the first quarter. ING Groep NV now owns 3,862,882 shares of the company’s stock valued at $114,689,000 after buying an additional 1,587,053 shares during the period. Harvest Fund Advisors LLC raised its position in shares of Mplx Lp by 13.0% in the first quarter. Harvest Fund Advisors LLC now owns 13,534,152 shares of the company’s stock valued at $401,829,000 after buying an additional 1,556,580 shares during the period. Finally, Center Coast Capital Advisors LP raised its position in shares of Mplx Lp by 2.5% in the second quarter. Center Coast Capital Advisors LP now owns 7,433,330 shares of the company’s stock valued at $249,983,000 after buying an additional 181,426 shares during the period.
Mplx Lp (NYSE:MPLX) traded down 0.51% during trading on Friday, hitting $32.86. 989,784 shares of the stock were exchanged. The stock’s market capitalization is $11.03 billion. The firm has a 50-day moving average of $33.02 and a 200-day moving average of $31.75. Mplx Lp has a 52 week low of $16.34 and a 52 week high of $45.63.
Mplx Lp (NYSE:MPLX) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.39. The firm had revenue of $564 million for the quarter, compared to analyst estimates of $657.88 million. The firm’s quarterly revenue was up 161.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. Equities research analysts anticipate that Mplx Lp will post $0.21 earnings per share for the current fiscal year.
MPLX has been the topic of a number of research analyst reports. Barclays PLC initiated coverage on shares of Mplx Lp in a research note on Tuesday, July 19th. They issued an “overweight” rating and a $42.00 target price on the stock. Zacks Investment Research lowered shares of Mplx Lp from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Jefferies Group initiated coverage on shares of Mplx Lp in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $35.00 target price on the stock. FBR & Co initiated coverage on shares of Mplx Lp in a research note on Friday, September 9th. They issued a “market perform” rating and a $35.00 target price on the stock. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of Mplx Lp in a research note on Friday, May 27th. They issued a “neutral” rating and a $38.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.18.
In related news, CAO Paula L. Rosson sold 12,267 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $33.38, for a total transaction of $409,472.46. Following the transaction, the chief accounting officer now directly owns 40,364 shares in the company, valued at $1,347,350.32. The sale was disclosed in a filing with the SEC, which is available through this link.
About Mplx Lp
MPLX LP is a United States-based diversified master limited partnership (MLP) company, which owns, operates, develops and acquires 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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