Mplx Lp (MPLX) Position Lowered by Ameriprise Financial Inc.
Ameriprise Financial Inc. cut its stake in shares of Mplx Lp (NYSE:MPLX) by 10.0% during the second quarter, Holdings Channel reports. The institutional investor owned 128,782 shares of the company’s stock after selling 14,270 shares during the period. Ameriprise Financial Inc.’s holdings in Mplx Lp were worth $4,329,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Advisory Services Network LLC boosted its position in 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 last quarter. Americafirst Capital Management LLC bought a new position in Mplx Lp during the second quarter worth approximately $173,000. Proficio Capital Partners LLC boosted its position in Mplx Lp by 28.4% in the second quarter. Proficio Capital Partners LLC now owns 5,832 shares of the company’s stock worth $194,000 after buying an additional 1,290 shares during the last quarter. Catawba Capital Management VA bought a new position in Mplx Lp during the second quarter worth approximately $200,000. Finally, Trellus Management Company LLC bought a new position in Mplx Lp during the second quarter worth approximately $202,000.
Shares of Mplx Lp (NYSE:MPLX) traded up 0.89% during trading on Tuesday, hitting $31.64. 87,554 shares of the company traded hands. The company has a 50-day moving average of $32.46 and a 200-day moving average of $32.29. The stock’s market capitalization is $10.62 billion. Mplx Lp has a 52-week low of $16.34 and a 52-week high of $45.63.
Mplx Lp (NYSE:MPLX) last issued 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 business earned $564 million during the quarter, compared to the consensus estimate of $657.88 million. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue was up 161.1% compared to the same quarter last year. Equities analysts expect that Mplx Lp will post $0.21 EPS for the current year.
MPLX has been the topic of a number of research analyst reports. Barclays PLC initiated coverage on shares of Mplx Lp in a report on Tuesday, July 19th. They issued an “overweight” rating and a $42.00 price target on the stock. Zacks Investment Research upgraded shares of Mplx Lp from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, July 27th. Jefferies Group assumed coverage on shares of Mplx Lp in a report on Tuesday, August 23rd. They set a “hold” rating and a $35.00 target price on the stock. FBR & Co assumed coverage on shares of Mplx Lp in a report on Friday, September 9th. They set a “market perform” rating and a $35.00 target price on the stock. Finally, Mizuho assumed coverage on shares of Mplx Lp in a report on Friday, September 30th. They set a “neutral” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Mplx Lp currently has a consensus rating of “Hold” and an average price target of $36.11.
In other news, CFO Nancy Buese sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $32.81, for a total transaction of $492,150.00. Following the completion of 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 is available through the SEC website. Also, COO Gregory Scott Floerke sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $31.00, for a total value of $31,000.00. The disclosure for this sale can be found here.
Mplx Lp Company Profile
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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