Tortoise Index Solutions LLC Raises Holdings in Mplx Lp (NYSE:MPLX)

Tortoise Index Solutions LLC lifted its position in Mplx Lp (NYSE:MPLX) by 17.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,287 shares of the pipeline company’s stock after acquiring an additional 18,045 shares during the period. Mplx accounts for 1.2% of Tortoise Index Solutions LLC’s holdings, making the stock its 22nd largest position. Tortoise Index Solutions LLC’s holdings in Mplx were worth $4,022,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Neuberger Berman Group LLC raised its position in Mplx by 12.6% in the first quarter. Neuberger Berman Group LLC now owns 688,291 shares of the pipeline company’s stock valued at $22,638,000 after purchasing an additional 77,083 shares during the period. Institutional & Family Asset Management LLC raised its position in Mplx by 2.4% in the first quarter. Institutional & Family Asset Management LLC now owns 31,716 shares of the pipeline company’s stock valued at $1,043,000 after purchasing an additional 735 shares during the period. OppenheimerFunds Inc. raised its position in Mplx by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 10,004,010 shares of the pipeline company’s stock valued at $329,032,000 after purchasing an additional 52,835 shares during the period. State of Tennessee Treasury Department raised its position in Mplx by 69.5% in the first quarter. State of Tennessee Treasury Department now owns 731,508 shares of the pipeline company’s stock valued at $24,059,000 after purchasing an additional 300,000 shares during the period. Finally, Knott David M raised its position in Mplx by 6.5% in the first quarter. Knott David M now owns 329,558 shares of the pipeline company’s stock valued at $10,839,000 after purchasing an additional 20,000 shares during the period. 30.74% of the stock is currently owned by hedge funds and other institutional investors.

MPLX has been the topic of a number of research analyst reports. Credit Suisse Group reduced their target price on Mplx from $44.00 to $39.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 12th. Barclays restated a “buy” rating and issued a $38.00 target price on shares of Mplx in a research report on Wednesday, March 13th. ValuEngine upgraded Mplx from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Zacks Investment Research downgraded Mplx from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Finally, Raymond James downgraded Mplx from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $38.80.

MPLX stock opened at $32.19 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.93 and a quick ratio of 0.85. The stock has a market cap of $25.57 billion, a P/E ratio of 14.06 and a beta of 1.20. Mplx Lp has a 12-month low of $28.32 and a 12-month high of $39.01. The company has a fifty day moving average price of $31.40.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Mplx had a return on equity of 27.44% and a net margin of 28.57%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Sell-side analysts expect that Mplx Lp will post 2.49 EPS for the current fiscal year.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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