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MPLX LP (MPLX) Gains As Market Dips: What You Should Know

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MPLX LP (MPLX) closed the most recent trading day at $31.56, moving +0.99% from the previous trading session. This change outpaced the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.

Heading into today, shares of the company had gained 7.76% over the past month, outpacing the Oils-Energy sector's gain of 2.96% and the S&P 500's gain of 1.44% in that time.

Wall Street will be looking for positivity from MPLX LP as it approaches its next earnings report date. This is expected to be August 2, 2022. The company is expected to report EPS of $0.82, up 24.24% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.46 billion, up 2.64% from the year-ago period.

MPLX's full-year Zacks Consensus Estimates are calling for earnings of $3.26 per share and revenue of $10.04 billion. These results would represent year-over-year changes of +13.99% and +0.16%, respectively.

It is also important to note the recent changes to analyst estimates for MPLX LP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 0.54% higher within the past month. MPLX LP is holding a Zacks Rank of #2 (Buy) right now.

Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 9.58 right now. For comparison, its industry has an average Forward P/E of 15.56, 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 industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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