Commonwealth Of Pennsylvania Public School Empls Retrmt Sys buys $98,988,334 stake in MPLX LP (MPLX)

MPLX LP (MPLX) : Commonwealth Of Pennsylvania Public School Empls Retrmt Sys scooped up 2,645 additional shares in MPLX LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 3,017,937 shares of MPLX LP which is valued at $98,988,334.MPLX LP makes up approximately 1.87% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.

Other Hedge Funds, Including , Alliancebernstein boosted its stake in MPLX in the latest quarter, The investment management firm added 1,077 additional shares and now holds a total of 39,999 shares of MPLX LP which is valued at $1,311,967.Private Capital Management Inc reduced its stake in MPLX by selling 3,800 shares or 16.41% in the most recent quarter. The Hedge Fund company now holds 19,350 shares of MPLX which is valued at $631,778. MPLX LP makes up approx 0.60% of Private Capital Management Inc’s portfolio. Capital One National Association added MPLX to its portfolio by purchasing 7,958 company shares during the most recent quarter which is valued at $263,251. MPLX LP makes up approx 0.02% of Capital One National Association’s portfolio.Mai Capital Management boosted its stake in MPLX in the latest quarter, The investment management firm added 21,822 additional shares and now holds a total of 134,737 shares of MPLX LP which is valued at $4,446,321. MPLX LP makes up approx 0.36% of Mai Capital Management’s portfolio.

MPLX LP closed down -0.22 points or -0.65% at $33.38 with 8,47,175 shares getting traded on Tuesday. Post opening the session at $33.71, the shares hit an intraday low of $33.34 and an intraday high of $33.94 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, MPLX LP reported $-0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.29 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.18. The company had revenue of $564.00 million for the quarter, 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. Jefferies Initiated MPLX LP on Aug 23, 2016 to “Hold”, Price Target of the shares are set at $35.Barclays Resumed MPLX LP on Jul 19, 2016 to “Overweight”, Price Target of the shares are set at $42.

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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