Center Coast Capital Advisors Lp buys $239,892,984 stake in MPLX LP (MPLX)

MPLX LP (MPLX) : Center Coast Capital Advisors Lp scooped up 2,219,529 additional shares in MPLX LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 7,251,904 shares of MPLX LP which is valued at $239,892,984.MPLX LP makes up approximately 7.28% of Center Coast Capital Advisors Lp’s portfolio.

MPLX LP opened for trading at $32.59 and hit $33.17 on the upside on Friday, eventually ending the session at $33.08, with a gain of 1.60% or 0.52 points. The heightened volatility saw the trading volume jump to 18,69,512 shares. Company has a market cap of $10,079 M.

Other Hedge Funds, Including , Cumberland Advisors Inc boosted its stake in MPLX in the latest quarter, The investment management firm added 43 additional shares and now holds a total of 370 shares of MPLX LP which is valued at $10,945. MPLX LP makes up approx 0.01% of Cumberland Advisors Inc’s portfolio.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. Catawba Capital Management Va sold out all of its stake in MPLX during the most recent quarter. The investment firm sold 7,219 shares of MPLX which is valued $214,116.

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 Raymond James to “Mkt Perform” on Apr 21, 2016. 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.

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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