MPLX LP (MPLX) Dips More Than Broader Markets: What You Should Know
MPLX LP (MPLX) closed at $32.50 in the latest trading session, marking a -0.67% move from the prior day. This move lagged the S&P 500's daily loss of 0.41%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 6.67%.
Coming into today, shares of the company had lost 1.59% in the past month. In that same time, the Oils-Energy sector lost 3.55%, while the S&P 500 lost 4.4%.
MPLX LP will be looking to display strength as it nears its next earnings release, which is expected to be January 31, 2023. In that report, analysts expect MPLX LP to post earnings of $0.86 per share. This would mark year-over-year growth of 10.26%. Meanwhile, our latest consensus estimate is calling for revenue of $2.66 billion, down 2.6% from the prior-year quarter.
MPLX's full-year Zacks Consensus Estimates are calling for earnings of $3.87 per share and revenue of $11.46 billion. These results would represent year-over-year changes of +35.31% and +14.29%, respectively.
Investors should also note any recent changes to analyst estimates for MPLX LP. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MPLX LP is currently a Zacks Rank #2 (Buy).
Digging into valuation, MPLX LP currently has a Forward P/E ratio of 8.46. This valuation marks a discount compared to its industry's average Forward P/E of 14.21.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 52, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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MPLX LP (MPLX) : Free Stock Analysis Report
