Energy Income Partners LLC Acquires Shares of 5,380,295 Mplx Lp $MPLX

Energy Income Partners LLC acquired a new position in shares of Mplx Lp (NYSE:MPLX - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,380,295 shares of the pipeline company's stock, valued at approximately $303,072,000. Mplx accounts for approximately 4.8% of Energy Income Partners LLC's investment portfolio, making the stock its 3rd biggest position. Energy Income Partners LLC owned 0.53% of Mplx as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new position in Mplx in the 2nd quarter valued at about $28,000. Bank of New York Mellon Corp acquired a new position in shares of Mplx during the second quarter valued at approximately $1,094,000. Doliver Advisors LP raised its holdings in shares of Mplx by 22.6% during the second quarter. Doliver Advisors LP now owns 51,748 shares of the pipeline company's stock valued at $2,915,000 after acquiring an additional 9,525 shares during the last quarter. Focus Financial Network Inc. lifted its position in shares of Mplx by 4.7% in the second quarter. Focus Financial Network Inc. now owns 8,994 shares of the pipeline company's stock valued at $507,000 after acquiring an additional 400 shares in the last quarter. Finally, Allied Private Wealth LLC purchased a new position in shares of Mplx in the second quarter valued at approximately $448,000. Hedge funds and other institutional investors own 24.25% of the company's stock.

Mplx Price Performance

MPLX stock opened at $59.48 on Wednesday. Mplx Lp has a 1 year low of $47.80 and a 1 year high of $60.95. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.89 and a quick ratio of 0.83. The firm has a market capitalization of $60.31 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 5.65 and a beta of 0.48. The business has a 50 day simple moving average of $57.57 and a 200-day simple moving average of $56.90.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 EPS for the quarter, hitting analysts' consensus estimates of $1.06. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.14 billion. Mplx had a return on equity of 32.83% and a net margin of 35.75%.The firm's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. Equities research analysts anticipate that Mplx Lp will post 4.26 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Friday, August 7th. Mplx's payout ratio is currently 92.47%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $60.00 price target on shares of Mplx in a research report on Thursday, July 2nd. Zacks Research upgraded Mplx from a "strong sell" rating to a "hold" rating in a report on Friday, June 5th. Wolfe Research cut shares of Mplx from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 29th. Morgan Stanley upped their target price on shares of Mplx from $60.00 to $66.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings reiterated a "buy (a-)" rating on shares of Mplx in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Mplx currently has a consensus rating of "Moderate Buy" and an average target price of $62.80.

Mplx Profile

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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