+ Watch MPLX
on My Watchlist
I am cautiously optimistic about this Master Limited Partnership spun off Marathon Petroleum in 2012 after hedge fund managers invested in MPC wanted to unlock value. The LP's goal is for consistently increasing revenues from services to enable increasing dividends to unit holders in future quarters. MPC remains a partner in the operation. MLPX owns pipeline, barge and tank facilities and refineries in the midwest . They also have interests in the Gulf Coast and recently bought BP's refinery in Mexico. They expect to service MPC with product transport and refining as well as increase revenues thru services to third parties. I am especially interested in the LP because it expects to be in primary position to support the Utica shale drilling operations which they expect will take off in mid to late 2013 and into 2014. Management also mentioned in the Quarterly Webcast that they intend to grow the business both organically and by acquisition.The stock has had quite a run since the IPO but I expect that it will continue to increase as domestic oil production needs increase in the next few years.
I thought that this one would be popular. Should have bought the IPO. I didn't notice that shares were available through Schwab until it was too late. Even with this one pricing at $22, above the expected range of $19-$21, it has soared on its opening day of trading to over $27. That seems like a lot to me, but the market looooves MLPs right now, particularly ones with solid businesses and parent companies like this one. I have to add it to my CAPS portfolio because it is a dividend-paying IPO and I've committed to tracking them. This is a little rich for my blood for real money...of course I've thought that with some other new MLPs only to see them soar. Time will tell.Deej
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