Bank of America Corp DE Trims Position in Mplx Lp $MPLX

Key Points

• Bank of America cut its MPLX position by 69.8% in the first quarter, selling nearly 6 million shares and retaining 2.57 million shares worth approximately $146.9 million.
• MPLX’s latest quarter showed 10.3% year-over-year revenue growth to $3.13 billion, while EPS of $1.06 matched consensus. The partnership declared a $1.0765 quarterly dividend, equating to a 7.3% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $61.80, but MPLX’s higher 2026 capital-spending outlook and interest-rate sensitivity could pressure valuation and near-term cash flow.

Bank of America Corp DE cut its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 69.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,573,276 shares of the pipeline company's stock after selling 5,957,790 shares during the period. Bank of America Corp DE owned about 0.25% of Mplx worth $146,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MPLX. Assetmark Inc. increased its stake in shares of Mplx by 81.5% during the first quarter. Assetmark Inc. now owns 559 shares of the pipeline company's stock worth $32,000 after purchasing an additional 251 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in shares of Mplx in the fourth quarter valued at approximately $32,000. Wiser Advisor Group LLC purchased a new position in shares of Mplx during the 3rd quarter worth $38,000. Prosperity Bancshares Inc purchased a new position in Mplx during the fourth quarter worth about $43,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Mplx during the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 24.25% of the company's stock.

Key Headlines Impacting Mplx

Here are the key news stories impacting Mplx this week:

• Positive Sentiment: Solid second-quarter performance: MPLX reported $1.08 billion in net income attributable to the partnership, $1.775 billion in adjusted EBITDA and $1.5 billion in distributable cash flow. Gathering and fractionation volume growth, particularly in natural gas and NGLs, helped drive year-over-year improvement. MPLX LP Reports Second-Quarter 2026 Financial Results
• Positive Sentiment: Strong cash returns: MPLX said its cash generation supported $1.1 billion of capital returns and reiterated plans to increase distributions by 12.5% in both 2026 and 2027, reinforcing the stock’s appeal to income-focused investors. MPLX Q2 2026 Earnings Call Highlights
• Positive Sentiment: Visible growth opportunities: Harmon Creek III has begun operations, while MPLX continues expanding processing and sour-gas treating capacity in the Delaware, Marcellus and Permian basins. About 85%–90% of revenue is supported by long-term, fixed-fee contracts and minimum-volume commitments, limiting direct exposure to commodity-price volatility. MPLX LP: Fee-Based Infrastructure Built for Volatility And Growth
• Neutral Sentiment: Results were broadly in line with expectations: Quarterly EPS of $1.06 matched consensus, while revenue of $3.13 billion was slightly below the roughly $3.14 billion estimate, despite revenue growth of 10.3% from the prior year. MPLX Q2 Earnings and Revenues
• Negative Sentiment: Higher spending may pressure near-term valuation: MPLX raised its 2026 capital-expenditure outlook by $500 million to $2.9 billion to accelerate Gulf Coast and other growth projects. Although management targets mid-single-digit adjusted EBITDA growth, investors may be concerned about execution risk and reduced near-term free cash flow.
• Negative Sentiment: Interest-rate sensitivity: Expectations for a potential Federal Reserve rate increase could weigh on high-yield energy partnerships such as MPLX by making income-oriented alternatives more competitive. High-Yield Energy Stocks

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings cut shares of Mplx from a "buy (a)" rating to a "buy (a-)" rating in a research report on Monday, May 18th. Zacks Research raised Mplx from a "strong sell" rating to a "hold" rating in a research note on Friday, June 5th. Royal Bank Of Canada reissued an "outperform" rating and issued a $60.00 price objective on shares of Mplx in a research report on Thursday, July 2nd. Morgan Stanley cut their target price on Mplx from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 20th. Finally, Barclays boosted their price target on shares of Mplx from $58.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Mplx currently has a consensus rating of "Moderate Buy" and an average target price of $61.80.

Mplx Trading Down 1.9%

Shares of Mplx stock opened at $59.37 on Thursday. The firm has a market cap of $60.25 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 5.76 and a beta of 0.48. The company's 50-day simple moving average is $56.93 and its 200-day simple moving average is $56.67. Mplx Lp has a 52-week low of $47.80 and a 52-week high of $60.95. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. Mplx had a return on equity of 32.71% and a net margin of 35.75%.The business had revenue of $3.13 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same period last year, the firm earned $1.03 EPS. The company's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Mplx Lp will post 4.26 earnings per share for the current year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be given a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Friday, August 7th. Mplx's dividend payout ratio (DPR) is presently 93.29%.

About Mplx

MPLX LP NYSE: MPLX is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership's asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.

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