MPLX LP (MPLX - Free Report) closed the latest trading day at $41.39, indicating a -0.86% change from the previous session's end. This change was narrower than the S&P 500's daily loss of 0.95%. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw a decrease of 0.84%.
The the stock of company has risen by 2.58% in the past month, lagging the Oils-Energy sector's gain of 8.7% and overreaching the S&P 500's gain of 1.78%.
The investment community will be paying close attention to the earnings performance of MPLX LP in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. The company's earnings per share (EPS) are projected to be $0.97, reflecting a 6.59% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.93 billion, up 8.18% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4 per share and revenue of $11.86 billion, which would represent changes of +5.26% and +5.12%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for MPLX LP. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. Right now, MPLX LP possesses a Zacks Rank of #2 (Buy).
With respect to valuation, MPLX LP is currently being traded at a Forward P/E ratio of 10.43. This represents a discount compared to its industry's average Forward P/E of 17.97.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 - Free Report) closed the latest trading day at $41.39, indicating a -0.86% change from the previous session's end. This change was narrower than the S&P 500's daily loss of 0.95%. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw a decrease of 0.84%.
The the stock of company has risen by 2.58% in the past month, lagging the Oils-Energy sector's gain of 8.7% and overreaching the S&P 500's gain of 1.78%.
The investment community will be paying close attention to the earnings performance of MPLX LP in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. The company's earnings per share (EPS) are projected to be $0.97, reflecting a 6.59% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.93 billion, up 8.18% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4 per share and revenue of $11.86 billion, which would represent changes of +5.26% and +5.12%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for MPLX LP. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. Right now, MPLX LP possesses a Zacks Rank of #2 (Buy).
With respect to valuation, MPLX LP is currently being traded at a Forward P/E ratio of 10.43. This represents a discount compared to its industry's average Forward P/E of 17.97.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
Get the latest research report on MPLX - FREE