Marathon Petroleum Beats by 37 Cents; Could Transfer Assets to MLP

Yaho!InPlay:

Reports 1Q12 earnings of $1.70 per share, $0.37 better than the Capital IQ Consensus Estimate of $1.33; revenues rose 13.5% year/year to $20.27 bln vs the $17.68 bln consensus.

Hmmm. Beats by 37 cents. Impressive. 

Also, this: Marathon Petroleum may shed some assets for a master limited partnership:

Marathon Petroleum provides update to midstream strategic alternatives evaluation process: board has authorized evaluation team to further explore the formation and IPO of an MLP and to prepare a registration statement: Co announced that board of directors has authorized and directed its evaluation team to further explore the formation and initial public offering of a master limited partnership (MLP) and to prepare a registration statement. If MPC determines to further pursue an initial public offering of an MLP, the issuer would be a wholly-owned subsidiary, MPLX LP. MPC would contribute a portion of its midstream assets to the MLP and sell a minority interest in the MLP in an initial public offering. The potential MLP would support MPC's strategy to grow its midstream business, initially through a contribution of an interest in certain onshore common carrier pipeline assets located in the Midwest and Gulf Coast regions of the U.S.

See disclaimer. This is not an investment site; no buy, hold, sell recommendation. I am simply posting items that interest me and generally (but not always) relate to the Bakken. Good luck to all.