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

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In the latest trading session, MPLX LP (MPLX) closed at $30.19, marking a +0.8% move from the previous day. This change outpaced the S&P 500's 0.84% loss on the day. Elsewhere, the Dow lost 0.69%, while the tech-heavy Nasdaq lost 0.07%.

Prior to today's trading, shares of the company had gained 5.94% over the past month. This has outpaced the Oils-Energy sector's loss of 13.18% and the S&P 500's gain of 2.02% 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. In that report, analysts expect MPLX LP to post earnings of $0.81 per share. This would mark year-over-year growth of 22.73%. Meanwhile, our latest consensus estimate is calling for revenue of $2.46 billion, up 2.61% from the prior-year quarter.

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.

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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. MPLX LP currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, MPLX LP is holding a Forward P/E ratio of 9.23. This represents a discount compared to its industry's average Forward P/E of 13.55.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% 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.

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

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