Mplx Lp (NYSE:MPLX) Stake Lessened by Waddell & Reed Financial Inc.
Waddell & Reed Financial Inc. decreased its holdings in Mplx Lp (NYSE:MPLX) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 371,670 shares of the pipeline company’s stock after selling 6,410 shares during the period. Waddell & Reed Financial Inc.’s holdings in Mplx were worth $12,689,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in MPLX. US Bancorp DE increased its stake in shares of Mplx by 4.2% in the 2nd quarter. US Bancorp DE now owns 71,341 shares of the pipeline company’s stock worth $2,436,000 after acquiring an additional 2,865 shares in the last quarter. Raymond James & Associates increased its stake in shares of Mplx by 8.0% in the 2nd quarter. Raymond James & Associates now owns 509,135 shares of the pipeline company’s stock worth $17,382,000 after acquiring an additional 37,740 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Mplx in the 2nd quarter worth about $194,035,000. C.V. Starr & Co. Inc. Trust bought a new position in shares of Mplx in the 2nd quarter worth about $6,698,000. Finally, Chickasaw Capital Management LLC increased its stake in shares of Mplx by 16.0% in the 2nd quarter. Chickasaw Capital Management LLC now owns 3,278,167 shares of the pipeline company’s stock worth $111,917,000 after acquiring an additional 451,602 shares in the last quarter. 31.21% of the stock is owned by institutional investors.
Shares of MPLX traded up $0.34 on Friday, reaching $35.08. The company’s stock had a trading volume of 1,896,434 shares, compared to its average volume of 1,670,194. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71. The company has a market cap of $27.54 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.50 and a beta of 1.39. Mplx Lp has a 12-month low of $31.60 and a 12-month high of $39.38.
A number of analysts have weighed in on the stock. Goldman Sachs Group restated a “neutral” rating on shares of Mplx in a research note on Tuesday. Zacks Investment Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a research note on Thursday. ValuEngine lowered shares of Mplx from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Jefferies Financial Group upgraded shares of Mplx from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Finally, Credit Suisse Group assumed coverage on shares of Mplx in a research note on Thursday. They set an “outperform” rating and a $45.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Mplx has an average rating of “Hold” and a consensus price target of $40.69.
MPLX LP is a fee-based, growth-oriented limited partnership company. It is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids; and the gathering, transportation and storage of crude oil and refined petroleum products.
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