Raymond James & Associates lifted its stake in Mplx Lp (NYSE:MPLX) by 8.0% in the second quarter, HoldingsChannel.com reports. The firm owned 509,135 shares of the pipeline company’s stock after buying an additional 37,740 shares during the period. Raymond James & Associates’ holdings in Mplx were worth $17,382,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. BB&T Securities LLC boosted its holdings in shares of Mplx by 84.4% in the 2nd quarter. BB&T Securities LLC now owns 52,593 shares of the pipeline company’s stock worth $1,795,000 after purchasing an additional 24,078 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of Mplx by 1.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 11,613,781 shares of the pipeline company’s stock worth $396,494,000 after purchasing an additional 158,163 shares during the period. Advisors Capital Management LLC purchased a new position in shares of Mplx in the 2nd quarter worth approximately $2,384,000. Ferris Capital LLC boosted its holdings in shares of Mplx by 271.7% in the 2nd quarter. Ferris Capital LLC now owns 11,706 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 8,557 shares during the period. Finally, Groesbeck Investment Management Corp NJ boosted its holdings in shares of Mplx by 13.7% in the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 46,570 shares of the pipeline company’s stock worth $1,590,000 after purchasing an additional 5,622 shares during the period. Hedge funds and other institutional investors own 31.23% of the company’s stock.

Shares of MPLX stock opened at $36.07 on Friday. Mplx Lp has a 52-week low of $31.60 and a 52-week high of $39.38. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.61 and a quick ratio of 0.55. The company has a market cap of $29.34 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.66 and a beta of 1.38.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Thursday, July 26th. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.31 billion. Mplx had a return on equity of 14.43% and a net margin of 24.22%. Mplx’s revenue was up 72.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. research analysts expect that Mplx Lp will post 2.32 EPS for the current year.

A number of equities research analysts recently issued reports on the company. ValuEngine raised Mplx from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research raised Mplx from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Wednesday, June 27th. Jefferies Financial Group raised Mplx from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Finally, Stifel Nicolaus raised their price target on Mplx from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.23.

Mplx Profile

MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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