Cumberland Advisors Inc buys $10,945 stake in MPLX LP (MPLX)

MPLX LP (MPLX) : Cumberland Advisors Inc scooped up 43 additional shares in MPLX LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 11, 2016. The investment management firm now holds a total of 370 shares of MPLX LP which is valued at $10,945.MPLX LP makes up approximately 0.01% of Cumberland Advisors Inc’s portfolio.

MPLX LP closed down -0.24 points or -0.80% at $29.58 with 14,61,726 shares getting traded on Friday. Post opening the session at $29.37, the shares hit an intraday low of $29.01 and an intraday high of $30.84 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Central Trust Co boosted its stake in MPLX in the latest quarter, The investment management firm added 1,144 additional shares and now holds a total of 5,157 shares of MPLX LP which is valued at $152,544. MPLX LP makes up approx 0.01% of Central Trust Co’s portfolio.Mai Capital Management boosted its stake in MPLX in the latest quarter, The investment management firm added 3,182 additional shares and now holds a total of 112,915 shares of MPLX LP which is valued at $3,349,059. MPLX LP makes up approx 0.28% of Mai Capital Management’s portfolio.Proficio Capital Partners boosted its stake in MPLX in the latest quarter, The investment management firm added 1,242 additional shares and now holds a total of 4,542 shares of MPLX LP which is valued at $134,716. MPLX LP makes up approx 0.11% of Proficio Capital Partners’s portfolio.

On the company’s financial health, MPLX LP reported $-0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.47 based on the information available during the earnings call on Feb 3, 2016. Analyst had a consensus of $0.33. The company had revenue of $269.00 million for the quarter, compared to analysts expectations of $317.86 million. The company’s revenue was up 93.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on MPLX LP. MPLX LP was Initiated by Stifel to “Hold” on Feb 23, 2016. Goldman Initiated MPLX LP on Feb 19, 2016 to “Buy”, Price Target of the shares are set at $30.Shares were Reiterated by Barclays on Feb 4, 2016 to “Overweight” and Lowered the Price Target to $ 32 from a previous price target of $50 .

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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