|Bid||36.14 x 800|
|Ask||0.00 x 800|
|Day's Range||36.06 - 36.52|
|52 Week Range||31.49 - 50.82|
|Beta (3Y Monthly)||1.23|
|PE Ratio (TTM)||14.05|
|Forward Dividend & Yield||4.12 (11.43%)|
|1y Target Est||N/A|
MPLX's first-quarter earnings are supported by contribution from dropdown transactions related to the Logistics and Supply segment's pipelines and refining logistics assets.
The parent company of Dayton's largest company, Speedway LLC, has finalized its merger of two additional companies.
Moody's Investors Service ("Moody's") upgraded MPLX LP's (MPLX) senior unsecured debt rating to Baa2 from Baa3. At the same time, Moody's upgraded the ratings of Andeavor Logistics LP (ANDX) including its senior unsecured debt to Baa3 from Ba1, and its preferred equity to Ba2 from Ba3.
The deal comes months after the U.S. refiner said it had been weighing a possible merger of MPLX and Andeavor Logistics LP, the two master limited partnerships (MLPs) in its midstream segment that transport, store and market crude oil and its refined products. "This transaction simplifies our MLPs into a single listed entity and creates a leading, large-scale, diversified midstream company anchored by fee-based cash flows," Chief Executive Officer Gary Heminger said in a statement.
MPC’s Q1 Earnings Fall Short of Analysts' Expectations(Continued from Prior Part)Two midstream MLPs to combineOn May 8, Marathon Petroleum (MPC), MPLX LP (MPLX), and Andeavor Logistics LP (ANDX) announced that MPLX would acquire ANDX. As per the
Marathon Petroleum's (MPC) Refining & Marketing segment reported operating loss of $334 million compared with loss of $133 million in the year-ago quarter.
Marathon Petroleum Corp. is merging two of its oil and gas pipeline, transportation and storage operations for $9 billion. MPLX and Andeavor Logistics are both master limited partnerships majority owned by Marathon, which raised the possibility that it might combine the two late last year. Andeavor unitholders will receive 1.135 MPLX common units for each Andeavor common unit held.
U.S. oil refiner Marathon Petroleum Corp said on Wednesday MPLX would buy Andeavor Logistics LP for $9 billion, merging its two midstream units that transport, store and market crude oil and refined products through pipelines, terminals and trucking operations. In October, the refiner said it planned to assess options for the two master limited partnerships, which could include either one buying the other. Under the terms of the agreement, Andeavor shareholders will receive 1.135 common units of MPLX for each common unit held and Marathon will receive 1.0328 MPLX common units for each ANDX common unit held.
Shares of Andeavor Logistics L.P. rallied 5.7% in premarket trade Wednesday, after the energy midstream logistics master limited partnership agreed to be acquired by MPLX L.P. in a deal valued at $9 billion. Under terms of the deal, Andeavor shareholders will receive 1.135 MPLX shares for each Andeavor share they own, which the companies said represent a 7.3% premium. In addition, Marathon Petroleum Corp. will receive 1.0328 MPLX shares for each Andeavor share held, representing a 2.4% discount. "This transaction simplifies our MLPs into a single listed entity and creates a leading, large-scale, diversified midstream company anchored by fee-based cash flows," said Gary Heminger, who is chief executive of all three entities. The deal is expected to immediately add to MPLX's distributable cash flow. Shares of Marathon Petroleum have tumbled 21.1% over the past 12 months, MPLX has shed 9.1% and Andeavor has dropped 27.6%, while the S&P 500 has gained 7.9%.
We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of December 31st. In this article we look at what those investors think of Andeavor Logistics LP (NYSE:ANDX). Andeavor Logistics LP […]
Occidental's (OXY) earnings and revenues in the fourth quarter surpass the Zacks Consensus Estimate, courtesy of strong performance from Permian Resources assets.
The decision to buy Andeavor for $23 billion is looking like a shrewd move based on the refiner's fourth-quarter earnings result.
Operating profit from Marathon Petroleum's (MPC) Refining & Marketing segment was $923 million compared with $732 million in the year-ago quarter.
It's not oil prices that impacted the company, it's the uncertainty about what Andeavor's parent company will do with it.
A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period […]