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MPLX LP (MPLX) Gains As Market Dips: What You Should Know
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MPLX LP (MPLX - Free Report) closed the most recent trading day at $32.52, moving +0.28% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.8%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the company had gained 2.14% over the past month. This has lagged the Oils-Energy sector's gain of 3.38% and outpaced the S&P 500's loss of 5.13% in that time.
MPLX LP will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2022. On that day, MPLX LP is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 12.16%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.52 billion, down 1.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.26 per share and revenue of $10.56 billion. These totals would mark changes of +13.99% and +5.32%, respectively, from last year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.51% lower within the past month. MPLX LP is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note MPLX LP's current valuation metrics, including its Forward P/E ratio of 9.94. This valuation marks a discount compared to its industry's average Forward P/E of 15.13.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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MPLX LP (MPLX) Gains As Market Dips: What You Should Know
MPLX LP (MPLX - Free Report) closed the most recent trading day at $32.52, moving +0.28% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.8%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the company had gained 2.14% over the past month. This has lagged the Oils-Energy sector's gain of 3.38% and outpaced the S&P 500's loss of 5.13% in that time.
MPLX LP will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2022. On that day, MPLX LP is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 12.16%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.52 billion, down 1.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.26 per share and revenue of $10.56 billion. These totals would mark changes of +13.99% and +5.32%, respectively, from last year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.51% lower within the past month. MPLX LP is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note MPLX LP's current valuation metrics, including its Forward P/E ratio of 9.94. This valuation marks a discount compared to its industry's average Forward P/E of 15.13.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.