Epoch Investment Partners Inc. Has $64.35 Million Holdings in Mplx Lp $MPLX

Epoch Investment Partners Inc. trimmed its position in shares of Mplx Lp (NYSE:MPLX) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,127,544 shares of the pipeline company’s stock after selling 29,045 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Mplx were worth $64,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MPLX. Morgan Stanley raised its stake in shares of Mplx by 23.7% in the fourth quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company’s stock valued at $307,577,000 after acquiring an additional 1,104,510 shares during the last quarter. Bank of America Corp DE raised its position in Mplx by 8.3% in the 2nd quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after purchasing an additional 757,569 shares during the last quarter. Merewether Investment Management LP acquired a new position in Mplx in the second quarter worth $16,988,000. Corient Private Wealth LLC boosted its stake in Mplx by 98.9% in the fourth quarter. Corient Private Wealth LLC now owns 559,598 shares of the pipeline company’s stock worth $29,698,000 after purchasing an additional 278,263 shares in the last quarter. Finally, Opal Capital LLC acquired a new position in Mplx in the fourth quarter worth $11,730,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Trading Up 2.1%

MPLX stock opened at $58.74 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71. Mplx Lp has a twelve month low of $47.80 and a twelve month high of $59.98. The company has a market cap of $59.61 billion, a P/E ratio of 12.72, a PEG ratio of 5.51 and a beta of 0.47. The business has a fifty day moving average of $56.47 and a 200-day moving average of $56.37.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.15). The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. Mplx’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 EPS. As a group, equities research analysts expect that Mplx Lp will post 4.22 EPS for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a dividend of $1.0765 per share. The ex-dividend date was Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a yield of 7.3%. Mplx’s dividend payout ratio is presently 93.29%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MPLX shares. Truist Financial lowered their target price on Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings lowered shares of Mplx from a “buy (a)” rating to a “buy (a-)” rating in a report on Monday, May 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $60.00 price objective on shares of Mplx in a research report on Thursday, July 2nd. The Goldman Sachs Group boosted their target price on shares of Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Barclays upped their target price on shares of Mplx from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.60.

Mplx 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.