MPLX LP $MPLX Stock Holdings Trimmed by Energy Income Partners LLC

Key Points

• Energy Income Partners LLC reduced its stake in Mplx Lp by 6.4%, making it the company's 3rd largest position, accounting for approximately 5.4% of their investment portfolio.
• Mplx recently reported earnings per share (EPS) of $1.03 for the last quarter, missing analysts' expectations, with a year-over-year revenue decrease of 1.6%.
• The company announced a quarterly dividend of $0.9565, which represents an annual yield of 7.5%, with a payout ratio of 90.97%.

Energy Income Partners LLC lessened its holdings in MPLX LP (NYSE:MPLX - Free Report) by 6.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,304,863 shares of the pipeline company's stock after selling 362,344 shares during the quarter. MPLX makes up 5.4% of Energy Income Partners LLC's holdings, making the stock its 3rd largest holding. Energy Income Partners LLC owned about 0.52% of MPLX worth $283,916,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MPLX. Rossby Financial LCC bought a new stake in shares of MPLX in the 1st quarter valued at about $33,000. JFS Wealth Advisors LLC bought a new position in MPLX in the first quarter worth approximately $37,000. Wealth Preservation Advisors LLC bought a new position in MPLX in the first quarter worth approximately $44,000. MorganRosel Wealth Management LLC purchased a new stake in MPLX during the first quarter worth $48,000. Finally, PSI Advisors LLC boosted 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 valued at $59,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 24.25% of the company's stock.

MPLX Stock Down 0.2%

MPLX stock traded down $0.09 during midday trading on Wednesday, reaching $50.88. The company's stock had a trading volume of 1,239,710 shares, compared to its average volume of 1,436,769. The stock's 50-day simple moving average is $50.82 and its 200-day simple moving average is $51.32. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. MPLX LP has a 52-week low of $42.29 and a 52-week high of $54.87. The stock has a market capitalization of $51.85 billion, a P/E ratio of 12.09, a PEG 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, sell-side analysts expect that MPLX LP will post 4.41 EPS for the current year.

MPLX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.5%. The ex-dividend date was Friday, August 8th. MPLX's dividend payout ratio (DPR) is currently 90.97%.

Wall Street Analysts Forecast Growth

MPLX has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on MPLX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. Stifel Nicolaus boosted their target price on shares of MPLX from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Barclays boosted their target price on shares of MPLX from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Wall Street Zen downgraded shares of MPLX from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, MPLX has an average rating of "Moderate Buy" and a consensus target price of $55.89.

MPLX Profile

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.