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Why it is Worth Adding MPLX Stock to Your Portfolio Now
MPLX LP (MPLX - Free Report) has seen upward earnings estimate revisions for 2022 in the past seven days. The stock, carrying a Zacks Rank #2 (Buy), is likely to witness earnings growth of 29.7% this year.
What’s Favoring the Stock?
Being a leading midstream energy player, MPLX has the least exposure to commodity price fluctuations. This is because the midstream assets are contracted by shippers for the long term. The assets of MPLX comprise a network of pipelines that carry crude oil and refined products. MPLX also generates cashflows from fuel distribution operations.
The key assets of the large-cap master limited partnership comprise crude oil and natural gas gathering systems and pipelines. In the prolific supply basins in the United States, MPLX has natural gas and NGL processing and fractionation facilities.
Apart from gauging low-carbon opportunities, MPLX is banking on several organic growth projects. Backed by its stable and growing business, the partnership is committed to returning capital to unitholders.
Stocks to Consider
Other prospective players in the energy space include Marathon Petroleum Corporation (MPC - Free Report) , PBF Energy Inc. (PBF - Free Report) and Phillips 66 (PSX - Free Report) . While Marathon Petroleum sports a Zacks Rank #1 (Strong Buy), PBF Energy and Phillips 66 carry a Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Marathon Petroleum, a well-known name in the downstream space, is the operator of the largest refining system in the nation. It has a strong focus on returning capital to shareholders. Over the past seven days, Marathon Petroleum has witnessed upward earnings estimate revisions for 2022 and 2023.
PBF Energy is a leading North American independent refiner. It is highly inclined to reduce its debt load and has reinstated its regular quarterly dividend. Over the past 30 days, PBF Energy has witnessed upward earnings estimate revisions for 2022 and 2023.
Phillips 66 has a diversified business model, having a significant presence in businesses related to refining midstream, chemicals and marketing & specialties. In each of the operations, Phillips 66 has a sound footprint pertaining to safety, profitability, size and competitive strengths.
It is focusing more on businesses like midstream, renewables and chemicals. This is making Phillips 66’s business model more stable.