LPL Financial LLC raised its stake in Mplx Lp (NYSE:MPLX) by 48.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,649 shares of the pipeline company’s stock after buying an additional 7,096 shares during the period. LPL Financial LLC’s holdings in Mplx were worth $656,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. lifted its position in shares of Mplx by 4.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 28,187,706 shares of the pipeline company’s stock worth $977,550,000 after purchasing an additional 1,269,600 shares during the period. Virtus Alternative Investment Advisers Inc. purchased a new stake in shares of Mplx in the 3rd quarter worth about $18,490,000. Chicago Partners Investment Group LLC lifted its position in shares of Mplx by 9.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 329,587 shares of the pipeline company’s stock worth $11,074,000 after purchasing an additional 29,505 shares during the period. MAI Capital Management lifted its position in shares of Mplx by 22.2% in the 4th quarter. MAI Capital Management now owns 135,092 shares of the pipeline company’s stock worth $4,093,000 after purchasing an additional 24,579 shares during the period. Finally, Chickasaw Capital Management LLC lifted its position in shares of Mplx by 18.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,765,545 shares of the pipeline company’s stock worth $204,996,000 after purchasing an additional 1,057,281 shares during the period. 31.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:MPLX opened at $34.33 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.95. Mplx Lp has a 1-year low of $28.32 and a 1-year high of $39.01. The company has a market cap of $26.97 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 2.28 and a beta of 1.30.
Several research firms have recently commented on MPLX. Barclays began coverage on shares of Mplx in a research report on Thursday, December 13th. They issued an “overweight” rating and a $40.00 target price for the company. Bank of America cut shares of Mplx from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research report on Thursday, November 29th. Evercore ISI initiated coverage on shares of Mplx in a research report on Tuesday, February 5th. They set an “outperform” rating for the company. ValuEngine raised shares of Mplx from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research cut shares of Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, January 12th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.83.
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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