Spirit of America Management Corp NY Reduces Position in Mplx Lp (NYSE:MPLX)

Spirit of America Management Corp NY cut its stake in shares of Mplx Lp (NYSE:MPLX) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,397 shares of the pipeline company’s stock after selling 19,500 shares during the quarter. Mplx comprises approximately 1.4% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 18th biggest holding. Spirit of America Management Corp NY’s holdings in Mplx were worth $7,054,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. PFG Investments LLC lifted its position in Mplx by 38.5% during the fourth quarter. PFG Investments LLC now owns 38,506 shares of the pipeline company’s stock valued at $1,843,000 after purchasing an additional 10,705 shares during the period. Walnut Private Equity Partners LLC lifted its position in Mplx by 479.6% during the fourth quarter. Walnut Private Equity Partners LLC now owns 153,600 shares of the pipeline company’s stock valued at $7,351,000 after purchasing an additional 127,100 shares during the period. MML Investors Services LLC lifted its position in Mplx by 387.5% during the third quarter. MML Investors Services LLC now owns 23,543 shares of the pipeline company’s stock valued at $1,047,000 after purchasing an additional 18,714 shares during the period. Glenmede Trust Co. NA lifted its position in Mplx by 7.2% during the third quarter. Glenmede Trust Co. NA now owns 149,509 shares of the pipeline company’s stock valued at $6,647,000 after purchasing an additional 10,000 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its position in Mplx by 7.4% during the third quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock valued at $12,488,000 after purchasing an additional 19,320 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the sale, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

MPLX has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. UBS Group upped their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Truist Financial upped their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada upped their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company upped their price objective on shares of Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

Mplx Stock Up 2.0 %

MPLX opened at $52.45 on Wednesday. Mplx Lp has a twelve month low of $37.04 and a twelve month high of $53.55. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The company has a 50-day moving average price of $49.43 and a 200 day moving average price of $45.85. The company has a market cap of $53.44 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that Mplx Lp will post 4.18 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a dividend of $0.9565 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.83 annualized dividend and a yield of 7.29%. Mplx’s dividend payout ratio is presently 90.33%.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.