Mplx Lp $MPLX is Energy Income Partners LLC’s 3rd Largest Position

by · The Markets Daily

Energy Income Partners LLC increased its stake in Mplx Lp (NYSE:MPLX – Free Report) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,541,795 shares of the pipeline company’s stock after purchasing an additional 236,932 shares during the quarter. Mplx accounts for 5.6% of Energy Income Partners LLC’s portfolio, making the stock its 3rd largest position. Energy Income Partners LLC owned about 0.54% of Mplx worth $285,458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC bought a new position in shares of Mplx during the 2nd quarter valued at $776,894,000. Goldman Sachs Group Inc. increased its position in Mplx by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company’s stock valued at $730,506,000 after acquiring an additional 83,392 shares during the last quarter. Bank of America Corp DE increased its position in Mplx by 8.3% during the second quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after acquiring an additional 757,569 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mplx by 0.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,456 shares of the pipeline company’s stock valued at $372,256,000 after acquiring an additional 50,979 shares during the period. Finally, Eagle Global Advisors LLC boosted its position in Mplx by 1.2% in the second quarter. Eagle Global Advisors LLC now owns 1,919,565 shares of the pipeline company’s stock worth $98,877,000 after purchasing an additional 23,135 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Performance

MPLX opened at $54.74 on Friday. The company has a 50 day simple moving average of $51.89 and a two-hundred day simple moving average of $51.22. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.31 and a quick ratio of 1.26. The firm has a market cap of $55.68 billion, a P/E ratio of 11.60 and a beta of 0.56. Mplx Lp has a 1-year low of $44.60 and a 1-year high of $56.26.

Mplx (NYSE:MPLX – Get Free Report) last released its earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Mplx had a net margin of 37.61% and a return on equity of 34.14%. Equities analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were given a $1.0765 dividend. The ex-dividend date was Friday, November 7th. This is a positive change from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 annualized dividend and a dividend yield of 7.9%. Mplx’s dividend payout ratio (DPR) is presently 91.31%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MPLX. Zacks Research raised shares of Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Barclays boosted their target price on shares of Mplx from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley increased their price target on shares of Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada lifted their price target on shares of Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Check Out Our Latest Stock Analysis on MPLX

Mplx Profile

(Free Report)

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.

See Also

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