MPLX LP (MPLX) is Resumed by Barclays to Overweight, Price Target at $42

MPLX LP (MPLX) was Resumed by Barclays to “Overweight” and the brokerage firm has set the Price Target at $42. Barclays advised their investors in a research report released on Jul 19, 2016.

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.

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.

MPLX LP closed down -0.32 points or -0.96% at $33 with 8,21,408 shares getting traded on Monday. Post opening the session at $33.01, the shares hit an intraday low of $32.77 and an intraday high of $33.5 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jul 5, 2016, Paula L Rosson (Senior VP and CAO) sold 12,267 shares at $33.38 per share price. According to the SEC, on May 24, 2016, Nancy Buese (Exec VP and CFO) sold 5,000 shares at $34.00 per share price. On May 24, 2016, C Corwin Bromley (Exec. VP and Gen Counsel) sold 2,500 shares at $34.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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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