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MPLX LP (MPLX) Outpaces Stock Market Gains: What You Should Know

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MPLX LP (MPLX) closed the most recent trading day at $33.71, moving +1.69% from the previous trading session. This change outpaced the S&P 500's 1.23% gain on the day. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.

Coming into today, shares of the company had gained 1.13% in the past month. In that same time, the Oils-Energy sector gained 7.99%, while the S&P 500 gained 4.69%.

Investors will be hoping for strength from MPLX LP as it approaches its next earnings release, which is expected to be May 3, 2022. On that day, MPLX LP is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 10.29%. Meanwhile, our latest consensus estimate is calling for revenue of $2.33 billion, down 0.52% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.14 per share and revenue of $9.42 billion, which would represent changes of +9.79% and -6.04%, respectively, from the prior year.

It is also important to note the 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 1.55% higher. MPLX LP is currently sporting a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 10.56 right now. This represents a discount compared to its industry's average Forward P/E of 16.89.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% 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.

To follow MPLX in the coming trading sessions, be sure to utilize Zacks.com.


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