MPLX LP (MPLX) Dips More Than Broader Markets: What You Should Know
MPLX LP (MPLX) closed at $29.02 in the latest trading session, marking a -1.43% move from the prior day. This change lagged the S&P 500's 0.07% loss on the day. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 0.02%.
Coming into today, shares of the company had lost 10.65% in the past month. In that same time, the Oils-Energy sector lost 11.91%, while the S&P 500 lost 7.99%.
Investors will be hoping for strength from MPLX LP as it approaches its next earnings release, which is expected to be August 2, 2022. The company is expected to report EPS of $0.81, up 22.73% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.46 billion, up 2.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.25 per share and revenue of $10.04 billion. These totals would mark changes of +13.64% and +0.1%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for MPLX LP. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.64% higher. MPLX LP is currently a Zacks Rank #3 (Hold).
Digging into valuation, MPLX LP currently has a Forward P/E ratio of 9.07. For comparison, its industry has an average Forward P/E of 14.33, which means MPLX LP is trading at a discount to the group.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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