Virtus Etf Advisers buys $8,328,144 stake in MPLX LP (MPLX)

MPLX LP (MPLX) : Virtus Etf Advisers scooped up 85,904 additional shares in MPLX LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 256,093 shares of MPLX LP which is valued at $8,328,144.MPLX LP makes up approximately 4.17% of Virtus Etf Advisers’s portfolio.

Other Hedge Funds, Including , Stephens Inc Ar boosted its stake in MPLX in the latest quarter, The investment management firm added 2,964 additional shares and now holds a total of 48,685 shares of MPLX LP which is valued at $1,600,763. MPLX LP makes up approx 0.07% of Stephens Inc Ar’s portfolio.Ngp Mr Management boosted its stake in MPLX in the latest quarter, The investment management firm added 1,974,134 additional shares and now holds a total of 6,137,641 shares of MPLX LP which is valued at $196,588,641. MPLX LP makes up approx 98.53% of Ngp Mr Management’s portfolio.Dividend Assets Capital reduced its stake in MPLX by selling 1,174 shares or 6.43% in the most recent quarter. The Hedge Fund company now holds 17,074 shares of MPLX which is valued at $562,247. MPLX LP makes up approx 0.02% of Dividend Assets Capital’s portfolio.

MPLX LP opened for trading at $32.79 and hit $33.15 on the upside on Monday, eventually ending the session at $32.96, with a gain of 0.95% or 0.31 points. The heightened volatility saw the trading volume jump to 8,48,023 shares. Company has a market cap of $11,618 M.

On the company’s financial health, MPLX LP reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus of $0.24. The company had revenue of $703.00 million for the quarter, compared to analysts expectations of $621.96 million. The company’s revenue was up 228.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on MPLX LP. MPLX LP was Upgraded by Jefferies to ” Buy” on Oct 31, 2016. MPLX LP was Upgraded by Raymond James to ” Strong Buy” on Oct 31, 2016. Company shares were Reiterated by Mizuho on Oct 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 37 from a previous price target of $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 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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