MPLX LP (MPLX) Boasts Earnings & Price Momentum: Should You Buy?
Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.
Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.
Why You Should Pay Attention to MPLX LP (MPLX)
Findlay, OH-based MPLX LP is a master limited partnership (MLP) engaged in providing a wide range of midstream energy services, including fuel distribution solutions. The large-cap partnership was created in 2012 to own, operate and develop midstream energy infrastructures and logistics assets, mostly for its parent company Marathon Petroleum Corporation. Notably, Marathon Petroleum holds around 64% of MPLX's outstanding common units.
MPLX was added to the Zacks Focus List on March 26, 2024 at $40.69 per share. Since then, shares have increased 1.52% to $41.31.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.10 to $4. MPLX boasts an average earnings surprise of 7.3%.
Moreover, analysts are expecting MPLX LP's earnings to grow 5.3% for the current fiscal year.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks like MPLX offer investors a great opportunity to get into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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MPLX LP (MPLX) : Free Stock Analysis Report
