RR Advisors LLC Has $27.42 Million Stock Holdings in MPLX LP $MPLX

Key Points

• RR Advisors LLC reduced its stake in Mplx Lp by 3.4%, holding 512,000 shares valued at approximately $27.42 million, which represents about 6.5% of its investment portfolio.
• Mplx reported earnings of $1.03 per share, missing analysts' expectations, with revenues of $2.79 billion for the quarter, down 1.6% year-over-year.
• The company declared a quarterly dividend of $0.9565 per share, equating to an annualized yield of 7.6%, with a payout ratio of nearly 91%.

RR Advisors LLC reduced its holdings in MPLX LP (NYSE:MPLX - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 512,000 shares of the pipeline company's stock after selling 18,000 shares during the period. MPLX makes up 6.5% of RR Advisors LLC's holdings, making the stock its 7th biggest position. RR Advisors LLC owned 0.05% of MPLX worth $27,424,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP raised its holdings in shares of MPLX by 38.2% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company's stock valued at $416,817,000 after buying an additional 2,153,490 shares during the period. JPMorgan Chase & Co. lifted its position in 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 during the period. Neuberger Berman Group LLC lifted its holdings in shares of MPLX by 54.8% in the 1st quarter. Neuberger Berman Group LLC now owns 996,777 shares of the pipeline company's stock valued at $53,348,000 after buying an additional 352,782 shares during the period. Fractal Investments LLC lifted its holdings in shares of MPLX by 18.1% in the 1st quarter. Fractal Investments LLC now owns 2,256,503 shares of the pipeline company's stock valued at $120,768,000 after buying an additional 345,654 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of MPLX by 21.0% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,822,709 shares of the pipeline company's stock valued at $97,551,000 after buying an additional 315,747 shares during the period. Institutional investors and hedge funds own 24.25% of the company's stock.

MPLX Trading Up 0.4%

Shares of MPLX stock traded up $0.19 during trading hours on Tuesday, reaching $49.61. The company had a trading volume of 1,144,095 shares, compared to its average volume of 1,630,852. The firm has a market cap of $50.56 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 1.32 and a beta of 0.73. MPLX LP has a 1-year low of $41.83 and a 1-year high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. The company has a 50 day moving average of $51.05 and a 200 day moving average of $51.52.

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

MPLX Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, August 8th. This represents a $3.83 annualized dividend and a yield of 7.7%. MPLX's dividend payout ratio (DPR) is 90.97%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded MPLX from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Stifel Nicolaus raised their target price on MPLX from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Finally, Barclays raised their target price on MPLX from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.11.

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.