Mplx Lp (NYSE:MPLX) is Energy Income Partners LLC’s 4th Largest Position

Energy Income Partners LLC grew its stake in Mplx Lp (NYSE:MPLX) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,224,918 shares of the pipeline company’s stock after buying an additional 255,211 shares during the period. Mplx accounts for 4.4% of Energy Income Partners LLC’s holdings, making the stock its 4th biggest position. Energy Income Partners LLC owned 0.51% of Mplx worth $217,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PSI Advisors LLC raised its holdings in shares of Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Quent Capital LLC acquired a new stake in Mplx during the first quarter valued at $35,000. HBC Financial Services PLLC acquired a new stake in Mplx during the fourth quarter valued at $36,000. Pacifica Partners Inc. acquired a new stake in Mplx during the first quarter valued at $41,000. Finally, Crewe Advisors LLC acquired a new stake in Mplx during the first quarter valued at $41,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MPLX shares. UBS Group raised their price target on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their price target on shares of Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Stifel Nicolaus lifted their target price on shares of Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Truist Financial lifted their target price on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Barclays lifted their target price on shares of Mplx from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Mplx has an average rating of “Buy” and a consensus target price of $45.75.

Mplx Price Performance

MPLX traded up $0.68 on Friday, reaching $43.09. 2,260,865 shares of the company’s stock were exchanged, compared to its average volume of 1,246,156. The stock has a market cap of $43.79 billion, a PE ratio of 11.11, a P/E/G ratio of 2.16 and a beta of 1.37. Mplx Lp has a twelve month low of $34.32 and a twelve month high of $43.42. The stock’s fifty day moving average price is $41.66 and its 200-day moving average price is $40.50. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.72 and a quick ratio of 0.67.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Sell-side analysts expect that Mplx Lp will post 4.02 EPS for the current year.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.