Trading Report: The Advisory Services Network LLC Increases Stake in Mplx Lp (MPLX)

The Advisory Services Network LLC Increases Stake in Mplx Lp (MPLX)

Advisory Services Network LLC raised its stake in shares of Mplx Lp (NYSE:MPLX) by 8.5% during the second quarter, Holdings Channel reports. The institutional investor owned 3,282 shares of the company’s stock after buying an additional 257 shares during the period. Advisory Services Network LLC’s holdings in Mplx Lp were worth $110,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Monetary Management Group Inc. raised its stake in Mplx Lp by 7.0% in the first quarter. Monetary Management Group Inc. now owns 4,000 shares of the company’s stock valued at $119,000 after buying an additional 262 shares during the period. Americafirst Capital Management LLC purchased a new stake in Mplx Lp during the second quarter valued at $173,000. Catawba Capital Management VA purchased a new stake in Mplx Lp during the second quarter valued at $200,000. Trellus Management Company LLC purchased a new stake in Mplx Lp during the second quarter valued at $202,000. Finally, Capital One National Association purchased a new stake in Mplx Lp during the second quarter valued at $268,000.

Mplx Lp (NYSE:MPLX) traded down 2.700% during mid-day trading on Wednesday, hitting $30.309. 756,889 shares of the stock were exchanged. Mplx Lp has a 52 week low of $16.34 and a 52 week high of $45.63. The company’s market capitalization is $10.17 billion. The stock’s 50-day moving average is $32.78 and its 200 day moving average is $32.20.

Mplx Lp (NYSE:MPLX) last released its earnings results on Thursday, July 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.39. The company had revenue of $564 million for the quarter, compared to the consensus estimate of $657.88 million. During the same quarter in the previous year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 161.1% compared to the same quarter last year. On average, analysts anticipate that Mplx Lp will post $0.21 EPS for the current year.

MPLX has been the subject of several research reports. Zacks Investment Research raised shares of Mplx Lp from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Wednesday, July 27th. Mizuho initiated coverage on shares of Mplx Lp in a research report on Friday, September 30th. They set a “neutral” rating and a $35.00 price objective for the company. FBR & Co initiated coverage on shares of Mplx Lp in a research report on Friday, September 9th. They set a “market perform” rating and a $35.00 price objective for the company. Jefferies Group initiated coverage on shares of Mplx Lp in a research report on Tuesday, August 23rd. They set a “hold” rating and a $35.00 price objective for the company. Finally, Barclays PLC initiated coverage on shares of Mplx Lp in a research report on Tuesday, July 19th. They set an “overweight” rating and a $42.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Mplx Lp currently has an average rating of “Hold” and a consensus target price of $36.11.

In related news, CFO Nancy Buese sold 15,000 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $32.81, for a total transaction of $492,150.00. Following the transaction, the chief financial officer now owns 187,779 shares in the company, valued at approximately $6,161,028.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mplx Lp Company Profile

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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