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

Key Points

• Spirit of America Management Corp NY reduced its stake in Mplx LP by 23% during the second quarter, holding 111,897 shares valued at approximately $5.76 million.
• Mplx recently reported a quarterly EPS of $1.03, missing analyst expectations of $1.08, with a revenue decline of 1.6% compared to the previous year.
• Wall Street analysts have mixed ratings on Mplx, with eight analysts rating it a Buy and a consensus target price of $57.50, despite some firms lowering their price objectives.

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

A number of other large investors have also recently added to or reduced their stakes in the company. Colonial River Investments LLC lifted its stake in Mplx by 1.8% in the first quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock valued at $621,000 after acquiring an additional 200 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Mplx by 1.8% in the first quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company's stock valued at $621,000 after purchasing an additional 200 shares during the period. Magnus Financial Group LLC raised its position in shares of Mplx by 4.9% in the second quarter. Magnus Financial Group LLC now owns 4,602 shares of the pipeline company's stock valued at $237,000 after purchasing an additional 215 shares during the period. Fifth Third Bancorp raised its position in shares of Mplx by 7.7% in the second quarter. Fifth Third Bancorp now owns 3,165 shares of the pipeline company's stock valued at $163,000 after purchasing an additional 227 shares during the period. Finally, Cherry Creek Investment Advisors Inc. raised its position in shares of Mplx by 1.8% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company's stock valued at $789,000 after purchasing an additional 254 shares during the period. Institutional investors and hedge funds own 24.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley increased their price objective on shares of Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. Stifel Nicolaus increased their price objective on shares of Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Wells Fargo & Company dropped their price objective on shares of Mplx from $60.00 to $59.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 23rd. Finally, Barclays increased their price objective on shares of Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Mplx has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.

Mplx Price Performance

NYSE:MPLX opened at $49.01 on Friday. Mplx Lp has a 52 week low of $43.54 and a 52 week high of $54.87. The firm has a market cap of $49.94 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.32 and a beta of 0.68. 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 quick ratio of 0.97 and a current ratio of 1.03.

Mplx (NYSE:MPLX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). Mplx had a return on equity of 30.95% and a net margin of 35.44%.The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the business posted $1.15 earnings per share. Mplx's revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Profile

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.

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