Hite Hedge Asset Management buys $12,318,662 stake in MPLX LP (MPLX)

MPLX LP (MPLX) : Hite Hedge Asset Management scooped up 354,637 additional shares in MPLX LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 26, 2016. The investment management firm now holds a total of 382,686 shares of MPLX LP which is valued at $12,318,662.MPLX LP makes up approximately 5.02% of Hite Hedge Asset Management’s portfolio.

MPLX LP closed down -0.12 points or -0.37% at $32.07 with 8,83,967 shares getting traded on Monday. Post opening the session at $32.29, the shares hit an intraday low of $31.43 and an intraday high of $32.46 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Huntington National Bank reduced its stake in MPLX by selling 392 shares or 48.82% in the most recent quarter. The Hedge Fund company now holds 411 shares of MPLX which is valued at $13,230.Private Capital Management Inc boosted its stake in MPLX in the latest quarter, The investment management firm added 1,800 additional shares and now holds a total of 23,150 shares of MPLX LP which is valued at $765,802. MPLX LP makes up approx 0.68% of Private Capital Management Inc’s portfolio.Country Club Trust Company N.a. boosted its stake in MPLX in the latest quarter, The investment management firm added 5,845 additional shares and now holds a total of 31,793 shares of MPLX LP which is valued at $940,437. MPLX LP makes up approx 0.14% of Country Club Trust Company N.a.’s portfolio.

On the company’s financial health, MPLX LP reported $-0.33 EPS for the quarter, missing the analyst consensus estimate by $ -0.53 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.20. The company had revenue of $609.00 million for the quarter, compared to analysts expectations of $621.50 million. The company’s revenue was up 203.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Many Wall Street Analysts have commented on MPLX LP. RBC Capital Mkts Initiated MPLX LP on May 2, 2016 to “Outperform”, Price Target of the shares are set at $45.MPLX LP was Upgraded by Credit Suisse to ” Outperform” on Apr 29, 2016. Stifel Upgraded MPLX LP on Apr 29, 2016 to ” Buy”, Price Target of the shares are set at $36.

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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