Allianz Asset Management GmbH raised its stake in shares of Mplx Lp (NYSE:MPLX) by 153.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,389 shares of the pipeline company’s stock after purchasing an additional 78,869 shares during the quarter. Allianz Asset Management GmbH’s holdings in Mplx were worth $4,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Ffcm LLC bought a new stake in shares of Mplx in the 2nd quarter worth approximately $116,000. Pathstone Family Office LLC bought a new stake in shares of Mplx in the 2nd quarter worth approximately $119,000. Tower Research Capital LLC TRC bought a new stake in shares of Mplx in the 2nd quarter worth approximately $191,000. Saratoga Research & Investment Management bought a new stake in shares of Mplx in the 3rd quarter worth approximately $192,000. Finally, Advisor Group Inc. lifted its holdings in shares of Mplx by 15.5% in the 2nd quarter. Advisor Group Inc. now owns 6,140 shares of the pipeline company’s stock worth $205,000 after acquiring an additional 822 shares during the last quarter. Institutional investors and hedge funds own 64.29% of the company’s stock.
Mplx Lp (NYSE MPLX) opened at $36.17 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68. Mplx Lp has a one year low of $30.88 and a one year high of $39.43. The company has a market cap of $15,061.42, a price-to-earnings ratio of 39.85, a P/E/G ratio of 4.95 and a beta of 1.36.
In related news, VP Gregory Scott Floerke sold 4,000 shares of Mplx stock in a transaction 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 transaction, the vice president now directly owns 83,598 shares of the company’s stock, valued at $2,900,014.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 8,000 shares of company stock worth $284,760.
A number of equities research analysts have recently weighed in on the stock. Guggenheim lowered shares of Mplx from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Monday. Royal Bank of Canada restated a “buy” rating and issued a $46.00 price objective on shares of Mplx in a report on Wednesday, November 15th. BidaskClub upgraded shares of Mplx from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 31st. UBS boosted their price objective on shares of Mplx from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Stifel Nicolaus lowered their price objective on shares of Mplx from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $41.55.
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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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