Mplx Lp (MPLX) Position Raised by Lucas Capital Management
Lucas Capital Management increased its position in shares of Mplx Lp (NYSE:MPLX) by 29.4% during the second quarter, Holdings Channel reports. The firm owned 87,762 shares of the company’s stock after buying an additional 19,951 shares during the period. Mplx Lp comprises 2.1% of Lucas Capital Management’s portfolio, making the stock its 16th largest position. Lucas Capital Management’s holdings in Mplx Lp were worth $2,951,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in MPLX. Advisory Services Network LLC boosted its position in shares of Mplx Lp by 8.5% in the second quarter. Advisory Services Network LLC now owns 3,282 shares of the company’s stock worth $110,000 after buying an additional 257 shares during the period. Monetary Management Group Inc. raised its stake in Mplx Lp by 7.0% in the first quarter. Monetary Management Group Inc. now owns 4,000 shares of the company’s stock worth $119,000 after buying an additional 262 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in Mplx Lp during the second quarter worth $173,000. Catawba Capital Management VA purchased a new stake in Mplx Lp during the second quarter worth $200,000. Finally, Trellus Management Company LLC purchased a new stake in Mplx Lp during the second quarter worth $202,000.
Shares of Mplx Lp (NYSE:MPLX) traded down 1.87% during mid-day trading on Tuesday, reaching $32.09. 916,378 shares of the company’s stock traded hands. The company’s market cap is $10.77 billion. Mplx Lp has a 12-month low of $16.34 and a 12-month high of $45.63. The company’s 50 day moving average is $33.06 and its 200 day moving average is $32.08.
Mplx Lp (NYSE:MPLX) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.11) earnings per share 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 analysts’ expectations of $657.88 million. Mplx Lp’s revenue for the quarter was up 161.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, analysts predict that Mplx Lp will post $0.21 EPS for the current fiscal year.
A number of analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Mplx Lp in a report on Friday. They set a “neutral” rating and a $35.00 target price for the company. FBR & Co initiated coverage on shares of Mplx Lp in a report on Friday, September 9th. They issued a “market perform” rating and a $35.00 price objective for the company. Jefferies Group initiated coverage on shares of Mplx Lp in a research note on Tuesday, August 23rd. They set a “hold” rating and a $35.00 target price for the company. Zacks Investment Research downgraded shares of Mplx Lp from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Finally, Barclays PLC initiated coverage on shares of Mplx Lp in a research note on Tuesday, July 19th. They set an “overweight” rating and a $42.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $36.11.
In other news, CFO Nancy Buese sold 15,000 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $32.81, for a total value of $492,150.00. Following the sale, the chief financial officer now owns 187,779 shares in the company, valued at $6,161,028.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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.
Want to see what other hedge funds are holding MPLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mplx Lp (NYSE:MPLX).
Receive News & Ratings for Mplx Lp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx Lp and related companies with MarketBeat.com's FREE daily email newsletter.