MPLX

MPLX LP

Energy


Presented:09/14/2016
Price:$31.90
Cap:$10.56B
Current Price:$44.09
Cap:$45.00B

Presented

Date09/14/2016
Price$31.90
Market Cap$10.56B
Ent Value$16.99B
P/E RatioN/A
Book Value$27.09
Div Yield0.06%
Shares O/S331.00M
Ave Daily Vol1,052,549
Short Int2.81%

Current

Price$44.09
Market Cap$45.00B
MPLX LP is a fee-based, growth-oriented master limited partnership. It is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids; and the gathering, transportation and storage of crude oil and refined petroleum products. The company operates through two segments: Logistics and Storage & Gathering and Processing. The Logistics and Storage segment includes transportation and storage of crude oil, refined products and other hydrocarbon-based products. The Gathering and Processing segment engages in gathering and processing of natural gas. MPLX was founded in March 27, 2012 and is headquartered in Findlay, OH.

Publicly traded companies mentioned herein: MPLX LP (MPLX).

Highlights

Following MPLX’s recent merger with MarkWest Energy Partners, approximately two-thirds of EBITDA now derives from the legacy MarkWest business, with the balance attributable to MPLX’s legacy logistics and storage business. While the deal was poorly timed and at the time largely panned by the investment community, the presenter believes that the MarkWest segment has a long organic growth runway ahead of it as the leading gathering and processing business in the Marcellus. He is long shares on the belief that the company’s dividend is likely to grow well in excess of the 10% growth expected by the Street.

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Idea Discussion

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