In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Mplx Lp (NYSE:MPLX) reported that Marathon Petroleum Corp has picked up 99,579,689 of common stock as of 2017-03-06.
The acquisition brings the aggregate amount owned by Marathon Petroleum Corp to a total of 99,579,689 representing a 26.9% stake in the company.
For those not familiar with the company, MPLX LP is a United States-based diversified master limited partnership (MLP) company, which owns, operates, develops and acquires midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs); and the gathering, transportation and storage of crude oil and refined petroleum products. The Company’s segments are Logistics and Storage (L&S) and Gathering and Processing (G&P). Its assets include infrastructure to support Marathon Petroleum Corporation (MPC), including approximately 2,900 miles of crude oil and refined product pipelines across over nine states. The Company owns a barge dock facility with approximately 80 thousand barrels per day (mbpd) of crude oil and product throughput capacity, as well as crude oil and product storage facilities with approximately 4,530 thousand barrels (mbbls) of available storage capacity.
A glance at Mplx Lp (NYSE:MPLX)’s key stats reveals a current market capitalization of 13.98 billion based on 271.00 Million shares outstanding and a price at last close of $37.95 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-12-04, Sandman picked up 20,000 at a purchase price of $31.16. This brings their total holding to 48,804 as of the date of the filing.
On the sell side, the most recent transaction saw Nickerson unload 15,000 shares at a sale price of $38.61. This brings their total holding to 174,666.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Mplx Lp (NYSE:MPLX) as things move forward to see if its progress aligns with these transactions.
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