Mplx Target of Unusually High Options Trading (MPLX)
Mplx Lp (NYSE:MPLX) was the target of unusually large options trading on Monday. Stock traders acquired 25,067 put options on the company. This represents an increase of approximately 1,643% compared to the typical daily volume of 1,438 put options.
A number of research firms recently weighed in on MPLX. Jefferies Group lowered their price target on Mplx from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, August 28th. Mizuho restated a “buy” rating and issued a $40.00 price target on shares of Mplx in a report on Friday, October 20th. Scotiabank restated a “buy” rating and issued a $44.00 price target on shares of Mplx in a report on Wednesday, October 4th. BidaskClub cut Mplx from a “sell” rating to a “strong sell” rating in a report on Friday, October 13th. Finally, UBS upped their price target on Mplx from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $41.91.
In related news, VP Gregory Scott Floerke sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $36.00, for a total value of $72,000.00. Following the sale, the vice president now owns 79,598 shares in the company, valued at approximately $2,865,528. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 8,000 shares of company stock worth $284,760.
Hedge funds have recently bought and sold shares of the stock. IHT Wealth Management LLC purchased a new stake in Mplx in the 2nd quarter valued at approximately $1,229,000. Ffcm LLC purchased a new stake in Mplx in the 2nd quarter valued at approximately $116,000. Pathstone Family Office LLC purchased a new stake in Mplx in the 2nd quarter valued at approximately $119,000. Saratoga Research & Investment Management purchased a new position in shares of Mplx during the 3rd quarter worth $192,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Mplx during the 3rd quarter worth $193,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mplx (MPLX) opened at $36.11 on Friday. Mplx has a 52 week low of $30.88 and a 52 week high of $39.43. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $15,760.00, a P/E ratio of 41.32, a P/E/G ratio of 5.13 and a beta of 1.37.
Mplx (NYSE:MPLX) last posted its earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Mplx had a return on equity of 5.87% and a net margin of 16.79%. The firm had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.07 million. During the same quarter in the prior year, the company earned $0.21 EPS. Mplx’s revenue was up 16.9% on a year-over-year basis. equities analysts forecast that Mplx will post 1.05 earnings per share for the current year.
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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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