MPLX LP (MPLX) Shares are Up 1.29%

MPLX LP (MPLX) has been under a strong bear grip, hence the stock is down -2.66% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.67% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.29% in the last 1 week, and is up 3.91% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

MPLX LP (NYSE:MPLX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $33.27 and $32.75 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.77. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.75, notching a gain of 1.47% for the day. The total traded volume was 942,579 . The stock had closed at $33.26 on the previous day.


The stock has recorded a 20-day Moving Average of 2.26% and the 50-Day Moving Average is 2.89%. MPLX LP is up 3.65% in the last 3-month period. Year-to-Date the stock performance stands at -11.35%.

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 Companys 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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