283,800 Mplx Lp $MPLX Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its stake in shares of Mplx Lp (NYSE:MPLX) by 17.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,330,800 shares of the pipeline company’s stock after selling 283,800 shares during the period. Mplx makes up about 3.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 9th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Mplx were worth $74,951,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Energy Income Partners LLC acquired a new stake in Mplx in the 2nd quarter valued at approximately $303,072,000. Royal Bank of Canada raised its position in shares of Mplx by 45.5% during the 1st quarter. Royal Bank of Canada now owns 1,151,905 shares of the pipeline company’s stock worth $65,739,000 after buying an additional 360,427 shares in the last quarter. Infrastructure Capital Advisors LLC raised its position in shares of Mplx by 2.9% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 1,068,251 shares of the pipeline company’s stock worth $60,965,000 after buying an additional 30,267 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Mplx by 1.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 486,668 shares of the pipeline company’s stock worth $27,107,000 after acquiring an additional 7,064 shares during the period. Finally, NEOS Investment Management LLC lifted its stake in shares of Mplx by 45.5% in the 2nd quarter. NEOS Investment Management LLC now owns 486,025 shares of the pipeline company’s stock worth $27,378,000 after acquiring an additional 152,041 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Price Performance

NYSE MPLX opened at $58.60 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $59.41 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 5.63 and a beta of 0.49. Mplx Lp has a 12-month low of $50.22 and a 12-month high of $60.95. The company has a 50 day moving average price of $58.38 and a two-hundred day moving average price of $57.06.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. Mplx had a return on equity of 32.83% and a net margin of 35.75%. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the company earned $1.03 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts predict that Mplx Lp will post 4.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on MPLX. Royal Bank Of Canada boosted their target price on Mplx from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Barclays boosted their target price on shares of Mplx from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Stifel Nicolaus started coverage on Mplx in a report on Thursday, September 10th. They issued a “hold” rating and a $65.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Mplx from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Wolfe Research cut shares of Mplx from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.80.

Mplx Profile

MPLX LP (NYSE:MPLX) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services for the gathering, processing, transportation, storage and marketing of crude oil, natural gas and natural gas liquids (NGLs).

MPLX’s assets include crude oil and refined-products pipelines, natural gas gathering and processing systems, NGL fractionation facilities, storage terminals and marine transportation infrastructure. Through its logistics and storage operations, the company supports the movement of hydrocarbons from producing regions to refineries, export facilities and other domestic markets.

The company serves several major U.S.