You can use MPEG Streamclip for macOS to: open and play most movie formats including MPEG files or transport streams edit them with Cut, Copy, Paste, and Trim set In/Out points and convert them into muxed or demuxed files, or export them to QuickTime, AVI, DV and MPEG-4 files with more than professional quality, so you can easily import them in a DVD authoring tool, and use them with many other applications or devices.
And now it is a DivX editor and encoding machine, and even a movie downloader. MPEG Streamclip for Mac is a powerful high-quality video converter, player, editor for MPEG, QuickTime, transport streams, iPod.