Ing Groep Nv increased its stake in Mplx Lp (MPLX) by 12.53% based on its latest 2016Q3 regulatory filing with the SEC. Ing Groep Nv bought 656,439 shares as the company’s stock rose 2.95% with the market. The institutional investor held 5.90M shares of the natural gas distribution company at the end of 2016Q3, valued at $193.36M, up from 5.24M at the end of the previous reported quarter. Ing Groep Nv who had been investing in Mplx Lp for a number of months, seems to be bullish on the $12.82B market cap company. The stock is up 0.65% or $0.23 after the positive news, hitting $35.57 per share. About 373,964 shares traded hands. MPLX LP (NYSE:MPLX) has risen 2.88% since June 7, 2016 and is uptrending. It has underperformed by 4.54% the S&P500.
Ing Groep Nv, which manages about $5.88B and $8.29B US Long portfolio, decreased its stake in Sunoco Logistics Prtnrs LP (NYSE:SXL) by 337,624 shares to 6.44M shares, valued at $179.22M in 2016Q3, according to the filing. It also reduced its holding in Energy Transfer Prtnrs LP (NYSE:ETP) by 551,626 shares in the quarter, leaving it with 10.67M shares, and cut its stake in Cypress Semiconductor Corp (NASDAQ:CY).
Ing Groep Nv is a Netherlands-based institutional investor with more than $5.88 billion AUM in March, 2014. Taken from Ing Groep latest Adv, the fund reported to have 850 full and part-time employees. Among which 70 performing investment advisory and research functions. The institutional investor had between 11-25 clients.
Insitutional Activity: The institutional sentiment increased to 1.29 in 2016 Q3. Its up 0.25, from 1.04 in 2016Q2. The ratio improved, as 22 funds sold all MPLX shares owned while 63 reduced positions. 29 funds bought stakes while 81 increased positions. They now own 227.22 million shares or 17.19% more from 193.88 million shares in 2016Q2. The New York-based Focused Wealth Mgmt has invested 0% in MPLX LP (NYSE:MPLX). Credit Suisse Ag last reported 0.22% of its portfolio in the stock. Finemark Bancshares last reported 0.01% of its portfolio in the stock. Starr Company, a Switzerland-based fund reported 152,600 shares. Citigroup Incorporated holds 1.80 million shares or 0.06% of its portfolio. Meeder Asset accumulated 7,733 shares or 0.02% of the stock. Glob X Mngmt Company Ltd Llc holds 0.79% or 526,924 shares in its portfolio. Wells Fargo And Mn holds 0.01% or 1.17 million shares in its portfolio. Obermeyer Wood Invest Counsel Lllp holds 0.79% of its portfolio in MPLX LP (NYSE:MPLX) for 243,695 shares. Moreover, Barclays Public Limited Company has 0.04% invested in MPLX LP (NYSE:MPLX) for 1.12M shares. Moors And Cabot Inc, a Massachusetts-based fund reported 26,519 shares. Bessemer Grp Inc holds 0% of its portfolio in MPLX LP (NYSE:MPLX) for 11,555 shares. Moreover, Renaissance Tech Lc has 0.02% invested in MPLX LP (NYSE:MPLX) for 390,767 shares. E&G Advsr Lp has 0.15% invested in the company for 7,412 shares. Fort Washington Investment Oh owns 343,730 shares or 0.21% of their US portfolio.
Insider Transactions: Since September 23, 2016, the stock had 0 insider purchases, and 13 insider sales for $7.25 million net activity. On Tuesday, November 15 NICKERSON RANDY S sold $495,978 worth of the stock or 15,000 shares. $160,120 worth of MPLX LP (NYSE:MPLX) shares were sold by Bromley C Corwin. On Wednesday, January 4 Floerke Gregory Scott sold $36,000 worth of the stock or 1,000 shares. SEMPLE FRANK M also sold $1.53M worth of MPLX LP (NYSE:MPLX) shares. Buese Nancy had sold 15,000 shares worth $492,200 on Friday, September 23.
More important recent MPLX LP (NYSE:MPLX) news were published by: Seekingalpha.com which released: “Why You Should Not Ignore MPLX Stock” on January 05, 2017, also Streetinsider.com published article titled: “Marathon Petroleum (MPC) to Significantly Accelerate Dropdown of Assets to …”, Fool.com published: “If You Love Energy Transfer Partners LP, You Should Check Out MPLX LP” on December 20, 2016. More interesting news about MPLX LP (NYSE:MPLX) was released by: Streetinsider.com and their article: “Form 4 MPLX LP For: Jan 03 Filed by: BEATTY MICHAEL L” with publication date: January 05, 2017.
According to Zacks Investment Research, “MPLX LP is a fee-based limited partnership formed to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets. The Company’s assets consist of a network of common carrier crude oil and product pipeline systems and associated storage assets in the Midwest and Gulf Coast regions of the United States. MPLX LP is based in Findlay, Ohio.”
MPLX LP (NYSE:MPLX) Ratings Coverage
Out of 16 analysts covering MPLX LP (NYSE:MPLX), 14 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 88% are positive. MPLX LP has been the topic of 32 analyst reports since October 20, 2015 according to StockzIntelligence Inc. Evercore downgraded the stock to “Hold” rating in Friday, April 8 report. The rating was initiated by Jefferies on Tuesday, August 23 with “Hold”. The firm has “Market Perform” rating given on Thursday, April 21 by Raymond James. The firm has “Overweight” rating by Barclays Capital given on Monday, November 2. The stock of MPLX LP (NYSE:MPLX) has “Sector Outperform” rating given on Thursday, February 4 by Howard Weil. The stock of MPLX LP (NYSE:MPLX) earned “Buy” rating by Citigroup on Tuesday, April 19. The rating was upgraded by Howard Weil on Tuesday, December 15 to “Sector Outperform”. The stock has “Strong Buy” rating given by Raymond James on Monday, October 31. The firm earned “Buy” rating on Tuesday, May 3 by Ladenburg Thalmann. The firm has “Overweight” rating by Barclays Capital given on Tuesday, July 19.
MPLX Company Profile
MPLX LP, incorporated on March 27, 2012, is a diversified master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Firm 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. The Company’s divisions are Logistics and Storage (L&S) and Gathering and Processing (G&P). It assets include infrastructure to support MPC, including approximately 2,900 miles of crude oil and refined product pipelines across over nine states. The Firm owns a barge dock facility with approximately 80 thousand barrels per day (mbpd) of crude oil and product throughput capacity, as well as crude oil and product storage facilities (tank farms) with approximately 4,530 thousand barrels (mbbls) of available storage capacity. It has multiple transportation and storage services agreements with MPC. The Firm also has long-term relationships with a set of producer clients in natural gas resource plays, including the Marcellus Shale, Utica Shale, Huron/Berea Shale, Haynesville Shale, Woodford Shale, Granite Wash formation and the Permian Basin.
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