In this series, we are looking at institutional activity in the top midstream companies during the fourth quarter. According to its latest 13F filing, Tortoise Capital Advisors sold net ~0.9 million shares of MPLX (MPLX) and held 3.4% of its total outstanding shares as of December 31. Marathon Petroleum (MPC) held ~63.6% in MPLX as of November. Marathon Petroleum formed MPLX in 2012 to own, operate, develop, and acquire midstream energy infrastructure assets.
Goldman Sachs Asset Management added ~1.0 million shares of MPLX and increased its stake close to 2% at the end of December 2018. Harvest Fund Advisors added ~300,000 shares during the fourth quarter and held a 1.4% stake in MPLX as of December 31. Harvest Fund Advisors offloaded more than 2.0 million shares during the third quarter. Read EPD, MMP, MPLX: How Their Earnings Growth Stacks Up for more information.
Of the 14 analysts surveyed covering MPLX, six recommended a “strong buy,” seven recommended a “buy,” and one recommended a “hold.” None of the analysts recommended a “sell” as of February 19.
The median target price for MPLX is $40.46, which implies an upside potential of more than 17% from its current price of $34.34.