Counterpoint Mutual Funds LLC Invests $1.89 Million in Mplx Lp $MPLX

Key Points

• Counterpoint Mutual Funds LLC invested approximately $1.89 million in MPLX LP during the 2nd quarter, acquiring 36,767 shares of the pipeline company's stock.
• MPLX recently reported an EPS of $1.03 for the quarter, missing analyst estimates, and experienced a 1.6% decline in quarterly revenue compared to the previous year.
• The company declared a quarterly dividend of $0.9565, resulting in a 7.6% dividend yield and a payout ratio of nearly 91%.

Counterpoint Mutual Funds LLC acquired a new position in shares of Mplx Lp (NYSE:MPLX - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,767 shares of the pipeline company's stock, valued at approximately $1,894,000.

Several other hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Mplx during the 2nd quarter worth approximately $776,894,000. Goldman Sachs Group Inc. raised its holdings in shares of Mplx by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company's stock worth $730,506,000 after acquiring an additional 83,392 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Mplx by 38.2% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company's stock worth $416,817,000 after acquiring an additional 2,153,490 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Mplx by 0.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,456 shares of the pipeline company's stock worth $372,256,000 after acquiring an additional 50,979 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Mplx by 14.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company's stock worth $270,060,000 after acquiring an additional 654,489 shares in the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Trading Down 0.5%

Mplx stock opened at $50.09 on Tuesday. The stock has a 50-day moving average of $50.72 and a two-hundred day moving average of $51.04. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. Mplx Lp has a one year low of $43.53 and a one year high of $54.87. The stock has a market cap of $51.05 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.36 and a beta of 0.74.

Mplx (NYSE:MPLX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). Mplx had a net margin of 35.44% and a return on equity of 30.95%. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter last year, the business posted $1.15 earnings per share. The company's quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Friday, August 8th. Mplx's dividend payout ratio (DPR) is presently 90.97%.

Analyst Ratings Changes

MPLX has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Barclays increased their price target on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Wall Street Zen lowered Mplx from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley increased their price target on Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, August 26th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.89.

About Mplx

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.

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