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MPLX

MPLX

$31.06

-0.42 (-1.33%)

, MPC

Marathon Petroleum

$42.52

0.05 (0.12%)

11:42
10/11/16
10/11
11:42
10/11/16
11:42

MPLX says Cornerstone Pipeline now fully operational

MPLX LP (MPLX) announced that its newly constructed Cornerstone Pipeline is now fully operational. The new 50-mile pipeline is designed to transport condensate and natural gasoline in a batched system from origination facilities in Harrison County, Ohio, to a tank farm in East Sparta, Ohio, where it can then continue on to Marathon Petroleum Corporation's (MPC) 93,000-barrels-per-day refinery in Canton, Ohio. MPLX is currently constructing and expanding additional pipelines, to provide further distribution to the Midwest and Canada, which are expected to be complete in 2017. Cornerstone Pipeline is comprised of a 42-mile, 16-inch pipeline from Cadiz to East Sparta with 180,000 barrels per day of capacity and an 8-mile, 8-inch pipeline from East Sparta to Canton with 45,000 barrels per day of capacity. Marathon Pipe Line LLC, a subsidiary of MPLX, will operate Cornerstone Pipeline from its operations center in Findlay, Ohio, and with local operational personnel.

MPLX

MPLX

$31.06

-0.42 (-1.33%)

MPC

Marathon Petroleum

$42.52

0.05 (0.12%)

  • 27

    Oct

  • 27

    Oct

MPLX MPLX
$31.06

-0.42 (-1.33%)

09/09/16
FBRC
09/09/16
INITIATION
Target $35
FBRC
Market Perform
MPLX initiated with a Market Perform at FBR Capital
FBR Capital analyst Robert Balsamo initiated MPLX with a Market Perform and $35 price target due to likely headwinds, including its exposure to the Marcellus region where volume growth has recently decelerated.
08/23/16
JEFF
08/23/16
INITIATION
Target $35
JEFF
Hold
MPLX initiated with a Hold at Jefferies
Jefferies analyst Corey Goldman initiated MPLX with a Hold rating and $35 price target.
08/23/16
JEFF
08/23/16
INITIATION
JEFF
Buy
Marathon Petroleum initiated with a Buy at JefferiesMPLX
Jefferies analyst Corey Goldman initiated Marathon Petroleum (MPC) with a Buy rating and $48 price target, citing the potential for ongoing M&A in the MLP space as well as the significant asset drop-down inventories at MPLX (MPLX). Goldman also initiated MPLX with a Hold rating as he launched coverage on the U.S. refining sector.
07/19/16
07/19/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Microsoft (MSFT) initiated with a Market Perform at William Blair. 2. Mobileye (MBLY) initiated with a Neutral at JPMorgan. 3. HubSpot (HUBS) initiated at Stifel. 4. Pluristem (PSTI) assumed with a Buy at H.C. Wainwright. 5. MPLX (MPLX) reinstated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MPC Marathon Petroleum
$42.52

0.05 (0.12%)

09/21/16
WELS
09/21/16
DOWNGRADE
WELS
Market Perform
Delek US downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Roger Read downgraded Delek US (DK) to Market Perform saying the recent rally in the shares has limited the near-term return potential. The analyst raised his price target range for the stock to $17-$19 from $16-$17. In Refining, Read calls Valero (VLO) and Marathon Petroleum (MPC) his top picks among the large caps and PBF Energy (PBF) his top pick among the small caps.
08/23/16
08/23/16
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Talend (TLND) initiated with an Equal Weight at Barclays, a Neutral at Goldman, a Neutral at Citi, a Neutral at JPMorgan, and an Outperform at William Blair. 2. BJ's Restaurants (BJRI), Brinker (EAT), Buffalo Wild Wings (BWLD), Chipotle (CMG), McDonald's (MCD), Cheesecake Factory (CAKE), Fogo De Chao (FOGO) were initiated with a Hold at Canaccord while the firm initiated Dave & Buster's (PLAY) and Panera Bread (PNRA) with a Buy. 3. Valero (VLO) and Marathon Petroleum (MPC) were initiated with a Buy at Jefferies, which also started coverage on Phillips 66 (PSX) with a Hold rating. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/13/16
LEHM
07/13/16
DOWNGRADE
Target $86
LEHM
Equal Weight
Phillips 66 downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Paul Cheng downgraded Phillips 66 (PSX) to Equal Weight saying he sees limited upside from current share levels. The analyst sees greater upside to large-cap peers Tesoro (TSO), Valero (VLO) and Marathon Petroleum (MPC) when refining margins start to rebound. He lowered his price target for Phillips 66 to $86 from $93.

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