Country Club Trust Company N.a. Lowers stake in MPLX LP (MPLX)

MPLX LP (MPLX) : Country Club Trust Company N.a. reduced its stake in MPLX LP by 3.04% during the most recent quarter end. The investment management company now holds a total of 21,947 shares of MPLX LP which is valued at $673,334 after selling 688 shares in MPLX LP , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.MPLX LP makes up approximately 0.10% of Country Club Trust Company N.a.’s portfolio.

Other Hedge Funds, Including , Creative Planning reduced its stake in MPLX by selling 279 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 20,924 shares of MPLX which is valued at $651,783.Hollencrest Securities reduced its stake in MPLX by selling 6,400 shares or 33.68% in the most recent quarter. The Hedge Fund company now holds 12,600 shares of MPLX which is valued at $392,490. MPLX LP makes up approx 0.06% of Hollencrest Securities’s portfolio.Cutler Group Lp reduced its stake in MPLX by selling 7,695 shares or 34.12% in the most recent quarter. The Hedge Fund company now holds 14,860 shares of MPLX which is valued at $467,793. MPLX LP makes up approx 0.03% of Cutler Group Lp’s portfolio.

MPLX LP opened for trading at $30.42 and hit $30.77 on the upside on Friday, eventually ending the session at $30.68, with a gain of 1.22% or 0.37 points. The heightened volatility saw the trading volume jump to 12,63,122 shares. Company has a market cap of $10,420 M.

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. Mizuho Initiated MPLX LP on Sep 30, 2016 to “Neutral”, Price Target of the shares are set at $35.FBR Capital Initiated MPLX LP on Sep 9, 2016 to “Mkt Perform”, Price Target of the shares are set at $35.Jefferies Initiated MPLX LP on Aug 23, 2016 to “Hold”, Price Target of the shares are set at $35.

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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