Mplx Lp (NYSE:MPLX) Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY cut its holdings in shares of Mplx Lp (NYSE:MPLX) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,897 shares of the pipeline company’s stock after selling 1,000 shares during the period. Mplx comprises approximately 1.5% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 16th biggest holding. Spirit of America Management Corp NY’s holdings in Mplx were worth $7,420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new position in shares of Mplx in the first quarter worth about $35,000. Crewe Advisors LLC acquired a new position in shares of Mplx in the first quarter worth about $41,000. Register Financial Advisors LLC acquired a new position in shares of Mplx in the first quarter worth about $42,000. CWM LLC raised its position in shares of Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 451 shares during the period. Finally, Summit Securities Group LLC raised its position in shares of Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after acquiring an additional 900 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Bank of America initiated coverage on shares of Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price for the company. UBS Group boosted their target price on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada boosted their target price on shares of Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.67.

Mplx Stock Up 0.2 %

Shares of NYSE MPLX opened at $43.93 on Friday. Mplx Lp has a 12-month low of $35.06 and a 12-month high of $45.24. The stock has a market cap of $44.64 billion, a PE ratio of 11.32, a P/E/G ratio of 1.22 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average of $43.57 and a 200 day moving average of $42.22.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.17. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Mplx’s revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts predict that Mplx Lp will post 4.24 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 annualized dividend and a yield of 7.74%. Mplx’s dividend payout ratio is presently 87.63%.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. 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; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.