Walnut Private Equity Partners LLC raised its position in Mplx Lp (NYSE:MPLX) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 49,846 shares of the pipeline company’s stock after acquiring an additional 1,500 shares during the period. Mplx comprises approximately 1.3% of Walnut Private Equity Partners LLC’s investment portfolio, making the stock its 13th biggest position. Walnut Private Equity Partners LLC’s holdings in Mplx were worth $1,510,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. raised its stake in shares of Mplx by 4.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 28,187,706 shares of the pipeline company’s stock worth $977,550,000 after buying an additional 1,269,600 shares during the period. Virtus Alternative Investment Advisers Inc. purchased a new position in Mplx during the 3rd quarter valued at approximately $18,490,000. Chicago Partners Investment Group LLC grew its holdings in Mplx by 2.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 288,642 shares of the pipeline company’s stock valued at $9,854,000 after buying an additional 7,200 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in Mplx by 74.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,708,264 shares of the pipeline company’s stock valued at $197,963,000 after buying an additional 2,430,097 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in Mplx by 8.0% during the 2nd quarter. Raymond James & Associates now owns 509,135 shares of the pipeline company’s stock valued at $17,382,000 after buying an additional 37,740 shares in the last quarter. 31.00% of the stock is currently owned by institutional investors.
Several research firms have weighed in on MPLX. Zacks Investment Research upgraded Mplx from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Wednesday, November 28th. ValuEngine upgraded Mplx from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Bank of America reiterated a “neutral” rating and issued a $41.00 target price (up previously from $36.00) on shares of Mplx in a report on Thursday, December 6th. Credit Suisse Group assumed coverage on Mplx in a report on Thursday, October 11th. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Citigroup dropped their target price on Mplx from $44.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $40.08.
Mplx (NYSE:MPLX) last issued its earnings results on Thursday, November 1st. The pipeline company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.62 billion. Mplx had a return on equity of 21.03% and a net margin of 27.99%. Mplx’s revenue was up 74.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. On average, research analysts expect that Mplx Lp will post 2.44 earnings per share for the current year.
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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