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MPLX LP (MPLX) Stock Moves -1.12%: What You Should Know
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MPLX LP (MPLX - Free Report) ended the recent trading session at $40.64, demonstrating a -1.12% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 1.46%. On the other hand, the Dow registered a loss of 1.24%, and the technology-centric Nasdaq decreased by 1.63%.
Coming into today, shares of the company had gained 2.04% in the past month. In that same time, the Oils-Energy sector gained 8.14%, while the S&P 500 gained 1.6%.
Investors will be eagerly watching for the performance of MPLX LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. The company is predicted to post an EPS of $0.97, indicating a 6.59% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.93 billion, indicating an 8.18% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4 per share and a revenue of $11.86 billion, indicating changes of +5.26% and +5.12%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for MPLX LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. Currently, MPLX LP is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, MPLX LP currently has a Forward P/E ratio of 10.27. This indicates a discount in contrast to its industry's Forward P/E of 17.13.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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MPLX LP (MPLX) Stock Moves -1.12%: What You Should Know
MPLX LP (MPLX - Free Report) ended the recent trading session at $40.64, demonstrating a -1.12% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 1.46%. On the other hand, the Dow registered a loss of 1.24%, and the technology-centric Nasdaq decreased by 1.63%.
Coming into today, shares of the company had gained 2.04% in the past month. In that same time, the Oils-Energy sector gained 8.14%, while the S&P 500 gained 1.6%.
Investors will be eagerly watching for the performance of MPLX LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. The company is predicted to post an EPS of $0.97, indicating a 6.59% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.93 billion, indicating an 8.18% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4 per share and a revenue of $11.86 billion, indicating changes of +5.26% and +5.12%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for MPLX LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. Currently, MPLX LP is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, MPLX LP currently has a Forward P/E ratio of 10.27. This indicates a discount in contrast to its industry's Forward P/E of 17.13.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.