ALPS Advisors, Inc. recently announced the acquisition of new stake in MPLX LP (NYSE:MPLX). The institutional investor has increased its shareholding in the Energy company by 14.39% to 23.65 million shares with purchase of 2.98 million shares. This fresh investment now brings its stake to 2.36% valued currently at $827.5 million. In addition, Tortoise Capital Advisors LLC raised its holdings by 0.76 million to 12.47 million shares. And Goldman Sachs Asset Management LP has lifted its position by 4.61% or 0.45 million shares – to 10.11 million shares.
With over 1.6 million MPLX LP (MPLX) shares trading Tuesday and a closing price of $34.20 on the day, the dollar volume was approximately $54.7 million. Currently, there are 1.00B common shares owned by the public and among those 352.74M shares have been available to trade.
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Insiders at the company have transacted a total of 74 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 56 of these insider trades were purchases, accounting for 187,392 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 51,821 shares.
The top 3 mutual fund holders in MPLX LP are Alerian MLP ETF, Invesco SteelPath MLP Income Fund, and Global X MLP ETF. Alerian MLP ETF owns 23.46 million shares of the company’s stock, all valued at over $820.89 million. The company bought an additional 20502.0 shares recently to bring their total holdings to about 2.34% of the shares outstanding. Invesco SteelPath MLP Income Fund sold -0.2 million shares to see its total holdings shrink to 12.19 million shares valued at over $426.51 million and representing 1.22% of the shares outstanding. Global X MLP ETF now owns shares totaling to 0.43% of the shares outstanding.
Shares of MPLX LP (NYSE: MPLX) opened at $34.26, up $0.06 from a prior closing price of $34.20. The company’s stock has a 5-day price change of 0.97% and -1.61% over the past three months. MPLX shares are trading 4.14% year to date (YTD), with the 12-month market performance up to 11.95% higher. It has a 12-month low price of $27.47 and touched a high of $35.37 over the same period. MPLX has an average intraday trading volume of 1.70 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.38%, -0.48%, and 2.44% respectively.
Institutional ownership of MPLX LP (NYSE: MPLX) shares accounts for 23.30% of the company’s 1.00B shares outstanding. Mutual fund holders own 65.02%, while other institutional holders and individual stakeholders account for 9.03% and 11.15% respectively.
It has a market capitalization of $34.19B and a beta (3y monthly) value of 1.42. The stock’s trailing 12-month PE ratio is 8.75, while the earnings-per-share (ttm) stands at $3.91. The company has a PEG of 1.15 and a Quick Ratio of 1.40 with the debt-to-equity ratio at 1.80. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.01% over the week and 1.14% over the month.
Analysts forecast that MPLX LP (MPLX) will achieve an EPS of $0.89 for the current quarter, $0.92 for the next quarter and $3.85 for 2024. The lowest estimate earnings-per-share for the quarter is $0.86 while analysts give the company a high EPS estimate of $0.95. Comparatively, EPS for the current quarter was $0.83 a year ago. Earnings per share for the fiscal year are expected to increase by 32.10%, and 5.25% over the next financial year. EPS should shrink at an annualized rate of 7.60% over the next five years, compared to 29.00% over the past 5-year period.
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