Mplx Lp $MPLX is Eagle Global Advisors LLC's 3rd Largest Position

Key Points

• Eagle Global Advisors LLC has increased its stake in MPLX LP by 1.2%, making it the firm's third largest holding, comprising approximately 4.0% of its portfolio.
• MPLX reported earnings of $1.03 per share for the last quarter, missing analyst estimates by $0.05, with a revenue decline of 1.6% year-over-year.
• The company declared a quarterly dividend of $0.9565 per share, resulting in an annualized dividend yield of 7.5%.

Eagle Global Advisors LLC lifted its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,919,565 shares of the pipeline company's stock after purchasing an additional 23,135 shares during the period. Mplx comprises approximately 4.0% of Eagle Global Advisors LLC's holdings, making the stock its 3rd biggest holding. Eagle Global Advisors LLC owned 0.19% of Mplx worth $98,877,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rossby Financial LCC purchased a new position in Mplx during the first quarter worth $33,000. JFS Wealth Advisors LLC purchased a new stake in Mplx during the 1st quarter worth about $37,000. Wealth Preservation Advisors LLC purchased a new stake in Mplx during the 1st quarter worth about $44,000. MorganRosel Wealth Management LLC purchased a new stake in Mplx during the 1st quarter worth about $48,000. Finally, PSI Advisors LLC increased its position in Mplx by 32.5% during the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company's stock.

Mplx Stock Down 0.2%

Shares of NYSE MPLX opened at $51.27 on Friday. Mplx Lp has a 52-week low of $43.53 and a 52-week high of $54.87. The firm has a fifty day moving average of $50.75 and a 200-day moving average of $51.02. The stock has a market capitalization of $52.25 billion, a PE ratio of 12.18, a P/E/G ratio of 1.39 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40.

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

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend was Friday, August 8th. Mplx's payout ratio is 90.74%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 26th. Wall Street Zen cut shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lowered their target price on shares of Mplx from $60.00 to $59.00 and set an "overweight" rating for the company in a research note on Tuesday. Barclays lifted their price objective on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Stifel Nicolaus lifted their price objective on Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock 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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