Stock of the Day: MPLX LP Declines Again; Strong Momentum for Sellers

Stock of the Day: MPLX LP Declines Again; Strong Momentum for Sellers

The stock of MPLX LP (NYSE:MPLX) is a huge mover today! The stock decreased 3.43% or $1.16 during the last trading session, hitting $32.7. About 1.07 million shares traded hands or 13.51% up from the average. MPLX LP (NYSE:MPLX) has risen 23.26% since March 1, 2016 and is uptrending. It has outperformed by 11.04% the S&P500.
The move comes after 5 months negative chart setup for the $11.72 billion company. It was reported on Oct, 4 by Barchart.com. We have $31.07 PT which if reached, will make NYSE:MPLX worth $586.00M less.

Analysts await MPLX LP (NYSE:MPLX) to report earnings on November, 3. They expect $0.23 EPS, down 43.90% or $0.18 from last year’s $0.41 per share. MPLX’s profit will be $82.43M for 35.54 P/E if the $0.23 EPS becomes a reality. After $-0.11 actual EPS reported by MPLX LP for the previous quarter, Wall Street now forecasts -309.09% EPS growth.

MPLX LP (NYSE:MPLX) Ratings Coverage

Out of 15 analysts covering MPLX LP (NYSE:MPLX), 9 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 60% are positive. MPLX LP has been the topic of 26 analyst reports since October 20, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Monday, May 2 by RBC Capital Markets. The stock of MPLX LP (NYSE:MPLX) has “Overweight” rating given on Monday, November 2 by Barclays Capital. The firm has “Buy” rating given on Friday, February 19 by Goldman Sachs. The company was initiated on Tuesday, February 23 by Stifel Nicolaus. Mizuho initiated MPLX LP (NYSE:MPLX) rating on Friday, September 30. Mizuho has “Neutral” rating and $35 price target. The stock of MPLX LP (NYSE:MPLX) earned “Sector Outperform” rating by Howard Weil on Tuesday, December 15. The stock of MPLX LP (NYSE:MPLX) earned “Market Perform” rating by Raymond James on Thursday, April 21. Credit Suisse initiated MPLX LP (NYSE:MPLX) on Tuesday, December 22 with “Neutral” rating. The company was upgraded on Wednesday, November 11 by Evercore. Evercore downgraded the shares of MPLX in a report on Friday, April 8 to “Hold” rating.

According to Zacks Investment Research, “MPLX LP is a fee-based limited partnership formed to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets. The Company’s assets consist of a network of common carrier crude oil and product pipeline systems and associated storage assets in the Midwest and Gulf Coast regions of the United States. MPLX LP is based in Findlay, Ohio.”

Insitutional Activity: The institutional sentiment increased to 1.04 in 2016 Q2. Its up 0.06, from 0.98 in 2016Q1. The ratio is positive, as 29 funds sold all MPLX LP shares owned while 75 reduced positions. 24 funds bought stakes while 84 increased positions. They now own 193.88 million shares or 5.29% less from 204.71 million shares in 2016Q1.
Hsbc Public Limited Com reported 803,068 shares or 0.07% of all its holdings. Starr Int Incorporated has 152,600 shares for 0.53% of their US portfolio. Deutsche Savings Bank Ag holds 2.57 million shares or 0.06% of its portfolio. Silvercrest Asset Mngmt Grp Ltd Liability Corp has invested 0.13% of its portfolio in MPLX LP (NYSE:MPLX). Salient Capital Ltd Liability Com owns 3.61 million shares or 2.7% of their US portfolio. Alps holds 4.64% of its portfolio in MPLX LP (NYSE:MPLX) for 15.58M shares. Natl Bank Of Montreal Can reported 3.00M shares or 0.12% of all its holdings. Mariner Grp Inc Lc has 0.48% invested in the company for 42,300 shares. The Texas-based Cushing Asset Management L P has invested 3.3% in MPLX LP (NYSE:MPLX). Sequoia Financial Advsr Limited Co reported 9,021 shares or 0.08% of all its holdings. Green Square Limited Liability Corp reported 23,528 shares or 0.19% of all its holdings. Avenir Corporation accumulated 0.69% or 249,866 shares. Natixis last reported 1.50M shares in the company. Focused Wealth Mgmt has 289 shares for 0% of their US portfolio. The Texas-based Kanaly Tru has invested 0.01% in MPLX LP (NYSE:MPLX).

Insider Transactions: Since April 11, 2016, the stock had 0 insider buys, and 4 selling transactions for $895,100 net activity. Bromley C Corwin sold 5,000 shares worth $147,900. $170,000 worth of shares were sold by Buese Nancy on Monday, May 23.

Another recent and important MPLX LP (NYSE:MPLX) news was published by Finance.Yahoo.com which published an article titled: “MPLX LP increases quarterly distribution” on July 22, 2016.

MPLX Company Profile

MPLX LP, incorporated on March 27, 2012, is a diversified master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Firm is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs); and the gathering, transportation and storage of crude oil and refined petroleum products. The Company’s divisions are Logistics and Storage (L&S) and Gathering and Processing (G&P). It assets include infrastructure to support MPC, including approximately 2,900 miles of crude oil and refined product pipelines across over nine states. The Firm owns a barge dock facility with approximately 80 thousand barrels per day (mbpd) of crude oil and product throughput capacity, as well as crude oil and product storage facilities (tank farms) with approximately 4,530 thousand barrels (mbbls) of available storage capacity. It has multiple transportation and storage services agreements with MPC. The Firm also has long-term relationships with a set of producer clients in natural gas resource plays, including the Marcellus Shale, Utica Shale, Huron/Berea Shale, Haynesville Shale, Woodford Shale, Granite Wash formation and the Permian Basin.

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