BNP Paribas Arbitrage SA trimmed its holdings in Mplx Lp (NYSE:MPLX) by 21.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,114 shares of the pipeline company’s stock after selling 4,876 shares during the period. BNP Paribas Arbitrage SA’s holdings in Mplx were worth $634,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of MPLX. Marshall Wace North America L.P. acquired a new position in shares of Mplx in the 2nd quarter valued at about $2,971,000. First Trust Advisors LP acquired a new position in shares of Mplx in the 2nd quarter valued at about $5,064,000. Spirit of America Management Corp NY lifted its stake in shares of Mplx by 8.4% in the 3rd quarter. Spirit of America Management Corp NY now owns 739,479 shares of the pipeline company’s stock valued at $25,889,000 after purchasing an additional 57,400 shares in the last quarter. Heronetta Management L.P. lifted its stake in shares of Mplx by 6.7% in the 3rd quarter. Heronetta Management L.P. now owns 262,837 shares of the pipeline company’s stock valued at $9,202,000 after purchasing an additional 16,400 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Mplx by 23.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 29,022 shares of the pipeline company’s stock valued at $969,000 after purchasing an additional 5,513 shares in the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP C Corwin Bromley sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $34.65, for a total value of $173,250.00. Following the completion of the sale, the vice president now directly owns 123,705 shares in the company, valued at approximately $4,286,378.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory Scott Floerke sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $34.69, for a total value of $138,760.00. Following the completion of the sale, the vice president now owns 83,598 shares of the company’s stock, valued at $2,900,014.62. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock worth $487,670 over the last 90 days.
Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. Mplx had a return on equity of 5.87% and a net margin of 16.79%. The company had revenue of $980.00 million for the quarter, compared to the consensus estimate of $965.07 million. During the same period in the previous year, the business earned $0.21 EPS. Mplx’s revenue for the quarter was up 16.9% compared to the same quarter last year. equities research analysts anticipate that Mplx Lp will post 1.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were issued a dividend of $0.5875 per share. The ex-dividend date was Friday, November 3rd. This is an increase from Mplx’s previous quarterly dividend of $0.56. This represents a $2.35 annualized dividend and a yield of 6.58%. Mplx’s payout ratio is currently 258.24%.
Several equities research analysts recently commented on MPLX shares. BidaskClub downgraded Mplx from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Zacks Investment Research downgraded Mplx from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Stifel Nicolaus reiterated a “buy” rating and set a $42.00 target price (down from $43.00) on shares of Mplx in a report on Tuesday, September 5th. Barclays reiterated a “buy” rating and set a $39.00 target price on shares of Mplx in a report on Thursday, October 19th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $46.00 target price on shares of Mplx in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.67.
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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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