MPLX LP (MPLX) has been under a strong bear grip, hence the stock is down -2.57% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.41% in the past 1 week. The stock has risen by 0.46% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.56% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 0.62% and the 50-Day Moving Average is 0.75%. MPLX LP (NYSE:MPLX): stock turned positive on Friday. Though the stock opened at $32.94, the bulls momentum made the stock top out at $33.13 level for the day. The stock recorded a low of $32.43 and closed the trading day at $32.8, in the green by 1.08%. The total traded volume for the day was 855,662. The stock had closed at $32.45 in the previous days trading.
In the past twelve weeks, the net percent change held by company insiders has changed by -4.99% . Institutional Investors own 63.5% of MPLX LP shares. During last six month period, the net percent change held by insiders has seen a change of -6.17%. Also, Barclays initiates coverage on MPLX LP (NYSE:MPLX). The shares have now been rated Overweight by the stock experts at the ratings house. Barclays announces the current price target of $42 per share on MPLX LP. The rating by the firm was issued on July 19, 2016.
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.