Spirit of America Management Corp NY raised its stake in Mplx Lp (NYSE:MPLX) by 13.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 643,879 shares of the company’s stock after buying an additional 74,100 shares during the period. Mplx Lp makes up about 2.8% of Spirit of America Management Corp NY’s holdings, making the stock its 2nd largest position. Spirit of America Management Corp NY’s holdings in Mplx Lp were worth $21,802,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MPLX. BlackRock Group LTD bought a new position in shares of Mplx Lp during the first quarter valued at about $1,940,000. Conning Inc. increased its position in shares of Mplx Lp by 30.3% in the second quarter. Conning Inc. now owns 112,474 shares of the company’s stock valued at $3,783,000 after buying an additional 26,158 shares during the period. Americafirst Capital Management LLC bought a new position in shares of Mplx Lp during the second quarter valued at about $173,000. Quadrature Capital Ltd bought a new position in shares of Mplx Lp during the first quarter valued at about $2,279,000. Finally, Williams Jones & Associates LLC increased its position in shares of Mplx Lp by 7.8% in the first quarter. Williams Jones & Associates LLC now owns 110,123 shares of the company’s stock valued at $3,270,000 after buying an additional 7,956 shares during the period.
Mplx Lp (NYSE:MPLX) traded up 1.22% during trading on Friday, hitting $30.68. 1,263,122 shares of the stock were exchanged. The stock’s market cap is $10.30 billion. Mplx Lp has a 52 week low of $16.34 and a 52 week high of $45.63. The stock has a 50 day moving average of $32.60 and a 200-day moving average of $32.18.
Mplx Lp (NYSE:MPLX) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.39. The business had revenue of $564 million for the quarter, compared to analyst estimates of $657.88 million. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s revenue was up 161.1% compared to the same quarter last year. Equities analysts expect that Mplx Lp will post $0.21 EPS for the current fiscal year.
Several research analysts have recently issued reports on MPLX shares. Zacks Investment Research downgraded shares of Mplx Lp from a “hold” rating to a “strong sell” rating in a report on Thursday, September 29th. Jefferies Group started coverage on Mplx Lp in a report on Tuesday, August 23rd. They issued a “hold” rating and a $35.00 price objective for the company. Mizuho started coverage on Mplx Lp in a report on Friday, September 30th. They issued a “neutral” rating and a $35.00 price objective for the company. FBR & Co started coverage on Mplx Lp in a report on Friday, September 9th. They issued a “market perform” rating and a $35.00 price objective for the company. Finally, Barclays PLC started coverage on Mplx Lp in a report on Tuesday, July 19th. They issued an “overweight” rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $36.11.
In other Mplx Lp news, CFO Nancy Buese sold 15,000 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $32.81, for a total value of $492,150.00. Following the transaction, the chief financial officer now owns 187,779 shares in the company, valued at $6,161,028.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gregory Scott Floerke sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $31.00, for a total transaction of $31,000.00. The disclosure for this sale can be found here.
Mplx Lp Company Profile
MPLX LP is a United States-based diversified master limited partnership (MLP) company, which owns, operates, develops and acquires 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.
Want to see what other hedge funds are holding MPLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mplx Lp (NYSE:MPLX).
Receive News & Ratings for Mplx Lp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx Lp and related companies with MarketBeat.com's FREE daily email newsletter.