Mplx Lp $MPLX is Energy Income Partners LLC’s 3rd Largest Position

Energy Income Partners LLC lowered its stake in Mplx Lp (NYSE:MPLX) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,157,478 shares of the pipeline company’s stock after selling 142,246 shares during the period. Mplx accounts for approximately 4.7% of Energy Income Partners LLC’s holdings, making the stock its 3rd biggest holding. Energy Income Partners LLC’s holdings in Mplx were worth $294,337,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Mplx by 4.1% in the 1st quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock worth $1,287,000 after purchasing an additional 939 shares during the period. Geode Capital Management LLC increased its position in shares of Mplx by 6.6% during the second quarter. Geode Capital Management LLC now owns 16,557 shares of the pipeline company’s stock valued at $853,000 after buying an additional 1,021 shares during the period. Guggenheim Capital LLC raised its stake in Mplx by 5.4% in the second quarter. Guggenheim Capital LLC now owns 19,139 shares of the pipeline company’s stock worth $986,000 after buying an additional 972 shares in the last quarter. Cerity Partners LLC raised its stake in Mplx by 12.5% in the second quarter. Cerity Partners LLC now owns 53,113 shares of the pipeline company’s stock worth $2,736,000 after buying an additional 5,916 shares in the last quarter. Finally, Glenview Trust co lifted its holdings in Mplx by 62.5% in the second quarter. Glenview Trust co now owns 6,500 shares of the pipeline company’s stock worth $335,000 after buying an additional 2,500 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Trading Down 0.5%

Shares of NYSE MPLX opened at $58.33 on Tuesday. Mplx Lp has a 1 year low of $47.80 and a 1 year high of $59.98. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.05. The firm has a 50-day moving average of $56.52 and a 200 day moving average of $56.43. The stock has a market cap of $59.19 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 5.66 and a beta of 0.47.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). Mplx had a return on equity of 32.74% and a net margin of 36.38%.The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the company posted $1.10 EPS. Mplx’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that Mplx Lp will post 4.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MPLX shares. Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Wells Fargo & Company decreased their target price on Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Morgan Stanley lowered their target price on Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. Barclays lifted their price target on Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings cut Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.60.

Mplx Company 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.