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Market Update (NYSE:MPC): Marathon Petroleum Corp. and MPLX LP complete drop-down of inland marine assets

[GlobeNewswire] – FINDLAY, Ohio, April 1, 2016 – Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) have closed the transaction in which MPC contributed its inland marine business to MPLX, effective March 31, … Read more on this. Marathon Petroleum Corporation (MPC) , with a current market cap of $19.58B, began trading this morning at $36.28. Looking at today’s market, MPC one day range is $35.97 to $36.62 with the price of the stock fluctuating between $29.24 to $60.38 over the last 52 weeks. Priced at 8.43x this year’s forecasted earnings, MPC shares are relatively expensive compared to the industry’s 0.54x forward p/e ratio. And for passive income investors, the company pays shareholders $1.28 per share annually in dividends, yielding 3.49%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $0.39 per share, which would be $1.23 worse than the year-ago quarter and a $0.70 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $4.34 is a $1.52 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $13.88 Billion. If reported, that would be a 19.49% decrease over the year-ago quarter. Recently, BofA/Merrill upgraded MPC from Neutral to Buy (Mar 3, 2016). Previously, JP Morgan downgraded MPC from Overweight to Neutral. When considering if perhaps the stock is under or overvalued, the average price target is $53.67, which is 47.93% above where the stock opened this morning. See more in (NYSE:MPC) Similar Articles: Company Update: Marathon Petroleum Corporation (NYSE:MPC) – Marathon Petroleum Corp. vice president, general counsel and secretary to retire Market Update: Marathon Petroleum Corporation (NYSE:MPC) – Marathon Petroleum Corp. announces successful completion of MPLX/MarkWest combination and director and executive appointments Company Update: Marathon Petroleum Corporation (NYSE:MPC) – Marathon Petroleum Corp. increases cash consideration for MPLX/MarkWest merger
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