MPLX LP (MPLX) : Tortoise Capital Advisors L.l.c. reduced its stake in MPLX LP by 20.12% during the most recent quarter end. The investment management company now holds a total of 19,487,301 shares of MPLX LP which is valued at $639,183,473 after selling 4,907,343 shares in MPLX LP , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.MPLX LP makes up approximately 4.46% of Tortoise Capital Advisors L.l.c.’s portfolio.
Other Hedge Funds, Including , Alliancebernstein boosted its stake in MPLX in the latest quarter, The investment management firm added 1,077 additional shares and now holds a total of 39,999 shares of MPLX LP which is valued at $1,311,967.Blackrock Advisors reduced its stake in MPLX by selling 25,482 shares or 3.29% in the most recent quarter. The Hedge Fund company now holds 748,475 shares of MPLX which is valued at $24,549,980. MPLX LP makes up approx 0.03% of Blackrock Advisors’s portfolio. Tower Research Capital (trc) sold out all of its stake in MPLX during the most recent quarter. The investment firm sold 802 shares of MPLX which is valued $26,306.Janney Montgomery Scott reduced its stake in MPLX by selling 846 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 29,669 shares of MPLX which is valued at $968,693. MPLX LP makes up approx 0.01% of Janney Montgomery Scott’s portfolio.Bb&t Securities boosted its stake in MPLX in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 10,887 shares of MPLX LP which is valued at $355,461. MPLX LP makes up approx 0.01% of Bb&t Securities’s portfolio.
MPLX LP closed down -0.22 points or -0.65% at $33.38 with 8,47,175 shares getting traded on Tuesday. Post opening the session at $33.71, the shares hit an intraday low of $33.34 and an intraday high of $33.94 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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 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.