Spirit Of America Management Corp Increased Mplx LP (NYSE:MPLX) by $3.33 Million as Shares Declined


Spirit Of America Management Corp increased its stake in Mplx Lp (NYSE:MPLX) by 29.11% based on its latest 2016Q2 regulatory filing with the SEC. Spirit Of America Management Corp bought 114,750 shares as the company’s stock declined 24.41% while stock markets rallied. The institutional investor held 508,979 shares of the natural gas distribution company at the end of 2016Q2, valued at $15.11 million, up from 394,229 at the end of the previous reported quarter. Spirit Of America Management Corp who had been investing in Mplx Lp for a number of months, seems to be bullish on the $11.10 billion market cap company. The stock is down 1.86% or $0.61 hitting $32.14, despite the positive news. About 368,540 shares traded hands. MPLX LP (NYSE:MPLX) has risen 77.51% since February 8, 2016 and is uptrending. It has outperformed by 61.02% the S&P500.

Spirit Of America Management Corp is a New York-based institutional investor with more than $529.10 million AUM in March, 2014. Taken from Spirit Of America Management latest Adv, the fund reported to have 8 full and part-time employees. Among which 4 performing investment advisory and research functions. The institutional investor had between 1-10 clients.

The institutional sentiment increased to 1.04 in Q2 2016. Its up 0.06, from 0.98 in 2016Q1. The ratio improved, as 29 funds sold all MPLX shares owned while 75 reduced positions. 24 funds bought stakes while 84 increased positions. They now own 193.88 million shares or 5.29% less from 204.71 million shares in 2016Q1.

Center Coast Capital Advisors Lp holds 7% of its portfolio in MPLX for 7.43 million shares. Stockbridge Partners Llc owns 3.83 million shares or 6.74% of their US portfolio. Moreover, Heronetta Management L.P. has 5.28% invested in the company for 292,524 shares. The Colorado-based Alps Advisors Inc has invested 4.64% in the stock. Yorkville Capital Management Llc, a New York-based fund reported 129,535 shares.

Out of 14 analysts covering MPLX LP (NYSE:MPLX), 9 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 64% are positive. $55 is the highest target while $26 is the lowest. The $36.62 average target is 13.94% above today’s ($32.14) stock price. MPLX LP has been the topic of 25 analyst reports since October 20, 2015 according to StockzIntelligence Inc. FBR Capital initiated the stock on September 9 with “Mkt Perform” rating. Ladenburg Thalmann maintained it with “Buy” rating and $46 target price in a May 3 report. RBC Capital Markets initiated the shares of MPLX in a report on May 2 with “Outperform” rating. Citigroup maintained the firm’s rating on April 19. Citigroup has “Buy” rating and $33 price target. Lastly, Barclays Capital initiated the stock with “Overweight” rating in a July 19 report.

MPLX LP is a United States-based diversified master limited partnership company, which owns, operates, develops and acquires midstream energy infrastructure assets. The company has a market cap of $11.10 billion. The Firm 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. It currently has negative earnings. The Company’s divisions are Logistics and Storage (L&S) and Gathering and Processing (G&P).

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