Rr Advisors buys $52,316,000 stake in MPLX LP (MPLX)

MPLX LP (MPLX) : Rr Advisors scooped up 229,000 additional shares in MPLX LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,595,000 shares of MPLX LP which is valued at $52,316,000.MPLX LP makes up approximately 7.74% of Rr Advisors’s portfolio.

Other Hedge Funds, Including , Texas Yale Capital Corp. reduced its stake in MPLX by selling 1,635 shares or 2.88% in the most recent quarter. The Hedge Fund company now holds 55,056 shares of MPLX which is valued at $1,805,837. MPLX LP makes up approx 0.17% of Texas Yale Capital Corp.’s portfolio.Bessemer Group Inc reduced its stake in MPLX by selling 1,340 shares or 11.66% in the most recent quarter. The Hedge Fund company now holds 10,156 shares of MPLX which is valued at $333,117.Segall Bryant Hamill reduced its stake in MPLX by selling 2,105 shares or 5.04% in the most recent quarter. The Hedge Fund company now holds 39,667 shares of MPLX which is valued at $1,301,078. MPLX LP makes up approx 0.03% of Segall Bryant Hamill’s portfolio.Gierl Augustine Investment Management Inc boosted its stake in MPLX in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 475 shares of MPLX LP which is valued at $15,841. MPLX LP makes up approx 0.02% of Gierl Augustine Investment Management Inc’s portfolio.

MPLX LP opened for trading at $33.38 and hit $33.93 on the upside on Monday, eventually ending the session at $33.55, with a gain of 0.24% or 0.08 points. The heightened volatility saw the trading volume jump to 3,97,708 shares. Company has a market cap of $11,394 M.

On the company’s financial health, MPLX LP reported $-0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.29 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.18. The company had revenue of $564.00 million for the quarter, compared to analysts expectations of $604.36 million. The company’s revenue was up 161.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on MPLX LP. Jefferies Initiated MPLX LP on Aug 23, 2016 to “Hold”, Price Target of the shares are set at $35.Barclays Resumed MPLX LP on Jul 19, 2016 to “Overweight”, Price Target of the shares are set at $42.

MPLX LP is a fee-based master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own operate develop and acquire pipelines and other midstream assets related to the transportation and storage of crude oil refined products and other hydrocarbon-based products. The Company’s assets include interest in a network of common carrier crude oil and product pipeline systems and storage assets in the Midwest and Gulf Coast regions of the United States. It has interest in a butane cavern in Neal West Virginia with one million barrels of natural gas liquids storage capacity. It charges tariff for transporting crude oil refined products and other hydrocarbon-based products through its pipelines and at its barge dock and fees for storing crude oil and products at its storage facilities. It also operates additional crude oil and product pipelines owned by MPC and third parties for which the Company is paid operating fees. It also has interest in Pipe Line Holdings.

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