MPLX LP (MPLX) Dips More Than Broader Markets: What You Should Know
MPLX LP (MPLX) closed at $34.74 in the latest trading session, marking a -0.37% move from the prior day. This move lagged the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, lost 3.22%.
Coming into today, shares of the company had gained 6.57% in the past month. In that same time, the Oils-Energy sector gained 3.05%, while the S&P 500 gained 4.64%.
MPLX LP will be looking to display strength as it nears its next earnings release, which is expected to be January 31, 2023. On that day, MPLX LP is projected to report earnings of $0.85 per share, which would represent year-over-year growth of 8.97%. Meanwhile, our latest consensus estimate is calling for revenue of $2.56 billion, down 6.51% from the prior-year quarter.
Any recent changes to analyst estimates for MPLX LP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.66% lower. MPLX LP is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 10.09 right now. Its industry sports an average Forward P/E of 16.16, so we one might conclude that MPLX LP is trading at a discount comparatively.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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MPLX LP (MPLX) : Free Stock Analysis Report
