Mplx Lp (MPLX) is Spirit of America Management Corp NY’s 2nd Largest Position

Spirit of America Management Corp NY lifted its stake in Mplx Lp (NYSE:MPLX) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 745,279 shares of the pipeline company’s stock after purchasing an additional 5,800 shares during the period. Mplx comprises about 2.9% of Spirit of America Management Corp NY’s holdings, making the stock its 2nd largest holding. Spirit of America Management Corp NY owned about 0.18% of Mplx worth $26,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the stock. Optimum Investment Advisors increased its holdings in shares of Mplx by 0.3% during the 2nd quarter. Optimum Investment Advisors now owns 7,654 shares of the pipeline company’s stock worth $256,000 after buying an additional 21 shares during the last quarter. CNH Partners LLC raised its stake in shares of Mplx by 0.4% during the second quarter. CNH Partners LLC now owns 23,115 shares of the pipeline company’s stock worth $772,000 after buying an additional 100 shares during the last quarter. M&T Bank Corp raised its stake in shares of Mplx by 0.3% during the second quarter. M&T Bank Corp now owns 59,573 shares of the pipeline company’s stock worth $1,990,000 after buying an additional 166 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Mplx by 2.3% during the second quarter. Advisory Services Network LLC now owns 9,363 shares of the pipeline company’s stock worth $313,000 after buying an additional 213 shares during the last quarter. Finally, King Luther Capital Management Corp raised its stake in shares of Mplx by 3.7% during the second quarter. King Luther Capital Management Corp now owns 12,317 shares of the pipeline company’s stock worth $411,000 after buying an additional 436 shares during the last quarter. Hedge funds and other institutional investors own 64.27% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Mplx from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Bank of America assumed coverage on shares of Mplx in a research note on Tuesday, January 9th. They set a “buy” rating for the company. Zacks Investment Research downgraded shares of Mplx from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Barclays downgraded shares of Mplx from an “overweight” rating to an “equal weight” rating and set a $39.00 price target for the company. in a research note on Wednesday. Finally, Credit Suisse Group began coverage on shares of Mplx in a research note on Thursday, January 4th. They set an “outperform” rating and a $43.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $41.67.

In other news, VP Gregory Scott Floerke sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $37.00, for a total value of $74,000.00. Following the completion of the transaction, the vice president now owns 77,598 shares in the company, valued at $2,871,126. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 8,000 shares of company stock valued at $284,760 in the last quarter.

Shares of Mplx Lp (NYSE MPLX) traded down $0.50 during trading hours on Wednesday, reaching $38.28. 4,038,300 shares of the company’s stock traded hands, compared to its average volume of 1,866,530. Mplx Lp has a 1 year low of $30.88 and a 1 year high of $39.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.54 and a quick ratio of 0.48. The company has a market capitalization of $15,580.00, a P/E ratio of 42.07, a PEG ratio of 3.13 and a beta of 1.38.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.07 million. Mplx had a net margin of 16.79% and a return on equity of 5.87%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. equities analysts forecast that Mplx Lp will post 1.08 earnings per share for the current year.

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About Mplx

MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.

Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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