MPLX LP (MPLX) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $-0.11 earnings per share for the quarter, missing the analyst consensus estimate by $-0.29. Analysts had a consensus of $0.18. The company posted revenue of $564.00 million in the period, compared to analysts expectations of $604.36 million. The company’s revenue was up 161.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
Many Wall Street Analysts have commented on MPLX LP. Barclays Resumed MPLX LP on Jul 19, 2016 to “Overweight”, Price Target of the shares are set at $42.RBC Capital Mkts Initiated MPLX LP on May 2, 2016 to “Outperform”, Price Target of the shares are set at $45.
MPLX LP opened for trading at $32.56 and hit $33.42 on the upside on Thursday, eventually ending the session at $33.27, with a gain of 1.49% or 0.49 points. The heightened volatility saw the trading volume jump to 12,99,956 shares. Company has a market cap of $11,287 M.
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 Companys 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.