Spirit of America Management Corp NY Has $20.51 Million Holdings in Mplx Lp (MPLX)

Spirit of America Management Corp NY trimmed its holdings in Mplx Lp (NYSE:MPLX) by 8.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 623,439 shares of the pipeline company’s stock after selling 58,055 shares during the period. Mplx comprises approximately 3.0% of Spirit of America Management Corp NY’s holdings, making the stock its 5th largest holding. Spirit of America Management Corp NY owned about 0.08% of Mplx worth $20,505,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Toth Financial Advisory Corp acquired a new stake in shares of Mplx during the 1st quarter valued at approximately $26,000. Lindbrook Capital LLC acquired a new stake in shares of Mplx during the 4th quarter valued at approximately $28,000. Legacy Advisors LLC acquired a new stake in shares of Mplx during the 1st quarter valued at approximately $44,000. Executive Wealth Management LLC acquired a new stake in shares of Mplx during the 4th quarter valued at approximately $46,000. Finally, We Are One Seven LLC acquired a new stake in shares of Mplx during the 4th quarter valued at approximately $52,000. 31.00% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the company. Evercore ISI assumed coverage on Mplx in a research report on Tuesday, February 5th. They set an “outperform” rating on the stock. Barclays reissued a “buy” rating and set a $38.00 price target on shares of Mplx in a research report on Wednesday, March 13th. Zacks Investment Research lowered Mplx from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Raymond James downgraded Mplx from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday. Finally, ValuEngine upgraded Mplx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Mplx has a consensus rating of “Buy” and a consensus target price of $39.67.

MPLX traded down $0.26 during trading on Wednesday, reaching $32.25. 381,238 shares of the company were exchanged, compared to its average volume of 1,423,058. The company has a market cap of $25.82 billion, a P/E ratio of 14.08, a PEG ratio of 2.17 and a beta of 1.30. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.76 and a quick ratio of 0.69. Mplx Lp has a 52 week low of $28.32 and a 52 week high of $39.01.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Thursday, February 7th. The pipeline company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.16). The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. Mplx had a return on equity of 26.21% and a net margin of 28.30%. Mplx’s quarterly revenue was up 58.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 earnings per share. As a group, research analysts anticipate that Mplx Lp will post 2.51 earnings per share for the current year.

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Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.

Further Reading: Why investors pay attention to retained earnings

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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