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MPLX LP (MPLX) Gains But Lags Market: What You Should Know
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MPLX LP (MPLX - Free Report) closed at $32.82 in the latest trading session, marking a +0.74% move from the prior day. The stock lagged the S&P 500's daily gain of 0.75%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 10.36%.
Heading into today, shares of the company had lost 0.21% over the past month, outpacing the Oils-Energy sector's loss of 6.78% and the S&P 500's loss of 5.98% 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 January 31, 2023. On that day, MPLX LP is projected to report earnings of $0.86 per share, which would represent year-over-year growth of 10.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.66 billion, down 2.6% from the year-ago period.
Any recent changes to analyst estimates for MPLX LP should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MPLX LP is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note MPLX LP's current valuation metrics, including its Forward P/E ratio of 9.27. For comparison, its industry has an average Forward P/E of 15.14, 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 18, which puts it in the top 8% 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) Gains But Lags Market: What You Should Know
MPLX LP (MPLX - Free Report) closed at $32.82 in the latest trading session, marking a +0.74% move from the prior day. The stock lagged the S&P 500's daily gain of 0.75%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 10.36%.
Heading into today, shares of the company had lost 0.21% over the past month, outpacing the Oils-Energy sector's loss of 6.78% and the S&P 500's loss of 5.98% 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 January 31, 2023. On that day, MPLX LP is projected to report earnings of $0.86 per share, which would represent year-over-year growth of 10.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.66 billion, down 2.6% from the year-ago period.
Any recent changes to analyst estimates for MPLX LP should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MPLX LP is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note MPLX LP's current valuation metrics, including its Forward P/E ratio of 9.27. For comparison, its industry has an average Forward P/E of 15.14, 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 18, which puts it in the top 8% 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.