SG Americas Securities LLC Has $236,000 Position in MPLX LP (MPLX)
SG Americas Securities LLC boosted its position in shares of MPLX LP (NYSE:MPLX) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,052 shares of the pipeline company’s stock after buying an additional 466 shares during the quarter. SG Americas Securities LLC’s holdings in MPLX were worth $236,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. grew its position in MPLX by 1.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock valued at $638,129,000 after buying an additional 202,094 shares during the period. Atlantic Trust Group LLC grew its position in MPLX by 5.8% during the first quarter. Atlantic Trust Group LLC now owns 6,565,477 shares of the pipeline company’s stock valued at $236,883,000 after buying an additional 362,343 shares during the period. Bank of Montreal Can grew its position in MPLX by 36.3% during the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock valued at $208,220,000 after buying an additional 1,661,578 shares during the period. Bank of America Corp DE grew its position in MPLX by 130.8% during the first quarter. Bank of America Corp DE now owns 6,196,080 shares of the pipeline company’s stock valued at $223,555,000 after buying an additional 3,511,264 shares during the period. Finally, JPMorgan Chase & Co. grew its position in MPLX by 9.5% during the first quarter. JPMorgan Chase & Co. now owns 4,915,070 shares of the pipeline company’s stock valued at $177,336,000 after buying an additional 427,617 shares during the period. Institutional investors own 63.13% of the company’s stock.
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MPLX has been the topic of several analyst reports. BidaskClub upgraded shares of MPLX from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research downgraded shares of MPLX from a “hold” rating to a “strong sell” rating in a report on Saturday, July 15th. Guggenheim initiated coverage on shares of MPLX in a report on Thursday, July 20th. They set a “buy” rating and a $40.00 price objective on the stock. Scotiabank set a $44.00 price objective on shares of MPLX and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of MPLX in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $42.25.
MPLX LP (MPLX) opened at 35.13 on Monday. MPLX LP has a 1-year low of $30.09 and a 1-year high of $39.43. The stock has a 50 day moving average of $34.20 and a 200 day moving average of $34.85. The stock has a market capitalization of $13.65 billion, a P/E ratio of 41.97 and a beta of 1.36.
MPLX (NYSE:MPLX) last posted its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. MPLX had a net margin of 19.07% and a return on equity of 6.13%. The business had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $884.70 million. During the same period in the prior year, the company posted ($0.11) EPS. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, analysts expect that MPLX LP will post $0.96 earnings per share for the current year.
In related news, VP C Corwin Bromley sold 2,500 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $86,250.00. Following the sale, the vice president now directly owns 123,705 shares of the company’s stock, valued at approximately $4,267,822.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 8,000 shares of company stock worth $276,910.
MPLX Company Profile
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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