Mizuho Securities Initiates Coverage on MPLX LP to Neutral

Mizuho Securities Initiates Coverage on MPLX LP(NYSE:MPLX). The shares have been rated Neutral. The rating by Mizuho Securities was issued on Sep 30, 2016.

In a different note, FBR Capital said it Initiates Coverage on MPLX LP, according to a research note issued on Sep 9, 2016. The shares have been rated ‘Market Perform’ by the firm. Jefferies said it Initiates Coverage on MPLX LP, according to a research note issued on Aug 22, 2016. The shares have been rated ‘Hold’ by the firm. Barclays said it Initiates Coverage on MPLX LP, according to a research note issued on Jul 19, 2016. The shares have been rated ‘Overweight’ by the firm.

MPLX LP (MPLX) shares turned negative on Tuesdays trading session with the shares closing down -0.61 points or -1.87% at a volume of 9,16,378. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $32.67. The peak price level was also seen at $32.67 while the days lowest was $31.86. Finally the shares closed at $32.09. The 52-week high of the shares is $45.63 while the 52-week low is $16.34. According to the latest information available, the market cap of the company is $10,899 M.

MPLX LP(MPLX) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $609.00M. Analysts had an estimated revenue of $613.90M. Earnings per share were $0.08. Analysts had estimated an EPS of $0.20.

Several Insider Transactions has been reported to the SEC. On Sep 27, 2016, Nancy Buese (Exec VP and CFO) sold 15,000 shares at $32.86 per share price.Also, On Jul 5, 2016, Paula L Rosson (Senior VP and CAO) sold 12,267 shares at $33.38 per share price.On May 24, 2016, C Corwin Bromley (Exec. VP and Gen Counsel) sold 2,500 shares at $34.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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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