Spirit of America Management Corp NY Has $5.76 Million Stake in Mplx Lp $MPLX

Spirit of America Management Corp NY trimmed its position in shares of Mplx Lp (NYSE:MPLX) by 23.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,897 shares of the pipeline company’s stock after selling 33,500 shares during the period. Mplx makes up approximately 1.2% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 23rd largest position. Spirit of America Management Corp NY’s holdings in Mplx were worth $5,764,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Private Wealth Asset Management LLC acquired a new stake in Mplx during the second quarter worth about $26,000. EQ Wealth Advisors LLC acquired a new stake in Mplx during the second quarter worth about $31,000. Blue Trust Inc. grew its stake in Mplx by 509.0% during the second quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock worth $31,000 after buying an additional 509 shares in the last quarter. Rossby Financial LCC acquired a new stake in Mplx during the first quarter worth about $33,000. Finally, JFS Wealth Advisors LLC acquired a new stake in Mplx during the first quarter worth about $37,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Up 1.0%

NYSE:MPLX opened at $49.01 on Friday. The firm’s 50 day simple moving average is $50.08 and its 200 day simple moving average is $50.55. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. Mplx Lp has a one year low of $43.54 and a one year high of $54.87. The company has a market cap of $49.94 billion, a PE ratio of 11.64, a P/E/G ratio of 1.32 and a beta of 0.68.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.05). Mplx had a return on equity of 30.95% and a net margin of 35.44%.The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business posted $1.15 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

MPLX has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 8th. Barclays raised their price target on shares of Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Morgan Stanley raised their price target on shares of Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. Zacks Research downgraded shares of Mplx from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price target on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 23rd. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.50.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.