MPLX LP (MPLX) To Acquire Markwest Energy Partners LP (MWE): Do Hedge Funds Like MPLX?

What does the smart money think about MPLX LP (NYSE:MPLX)?

When looking at the hedgies followed by Insider Monkey, Israel Englander‘s Millennium Management had the number one position in MPLX LP (NYSE:MPLX), in 162,500 shares worth close to $11.9 million, accounting for less than 0.1% of its total 13F portfolio. Millennium Management also held an $11.5 million position of call options underlying shares. Some other hedgies that hold long positions consist of Richard Driehaus’ Driehaus Capital, Jim Simons’ Renaissance Technologies, and Millennium Management Subsidiary’s Green Arrow Capital Management.

Matthew Hulsizer’s PEAK6 Capital Management was the largest new investor in MPLX during the first quarter, buying 38,772 shares worth about $2.84 million. On the flip side of the coin, Daniel S. Och’s OZ Management cut the largest investment of all the hedgies followed by Insider Monkey, 34,270 shares valued at close to $2.52 million.

The bullish sentiment among the hedge funds tracked by Insider Monkey by the end of the first quarter makes MPLX LP (NYSE:MPLX) in addition to its latest purchase of a company hedgies were also bullish on recently, makes it a good stock to buy on the dip today.

Disclosure: None