According to Zacks, “MPLX LP is a fee-based limited partnership formed to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets. The Company’s assets consist of a network of common carrier crude oil and product pipeline systems and associated storage assets in the Midwest and Gulf Coast regions of the United States. MPLX LP is based in Findlay, Ohio. “
MPLX has been the subject of several other reports. FBR & Co began coverage on Mplx Lp in a research note on Friday, September 9th. They set a market perform rating and a $35.00 target price for the company. Jefferies Group began coverage on Mplx Lp in a research note on Tuesday, August 23rd. They set a hold rating and a $35.00 target price for the company. Finally, Barclays PLC began coverage on 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $36.11.
Shares of Mplx Lp (NYSE:MPLX) opened at 32.09 on Thursday. The company’s 50-day moving average is $33.03 and its 200 day moving average is $32.10. The firm’s market capitalization is $10.77 billion. Mplx Lp has a 52-week low of $16.34 and a 52-week high of $45.63.
Mplx Lp (NYSE:MPLX) last released its quarterly earnings results 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 analysts’ expectations of $657.88 million. The firm’s revenue for the quarter was up 161.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. Equities analysts expect that Mplx Lp will post $0.21 earnings per share for the current fiscal year.
In other news, CFO Nancy Buese sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 187,779 shares of the company’s stock, valued at $6,161,028.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Several hedge funds and other institutional investors have recently modified their holdings of MPLX. BlackRock Group LTD acquired a new position in shares of Mplx Lp during the first quarter worth approximately $1,940,000. Conning Inc. raised its position in shares of Mplx Lp by 30.3% in the second quarter. Conning Inc. now owns 112,474 shares of the company’s stock worth $3,783,000 after buying an additional 26,158 shares during the period. Americafirst Capital Management LLC acquired a new position in shares of Mplx Lp during the second quarter worth approximately $173,000. Quadrature Capital Ltd acquired a new position in shares of Mplx Lp during the first quarter worth approximately $2,279,000. Finally, Glenmede Trust Co. NA raised its position in shares of Mplx Lp by 37.4% in the first quarter. Glenmede Trust Co. NA now owns 80,713 shares of the company’s stock worth $2,396,000 after buying an additional 21,976 shares during the period.
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.
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