In the latest trading session, MPLX LP (MPLX - Free Report) closed at $24.74, marking a -1.94% move from the previous day. This change lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 0.2%.
Prior to today's trading, shares of the company had gained 7.73% over the past month. This has outpaced the Oils-Energy sector's gain of 0.62% and the S&P 500's gain of 2.67% in that time.
MPLX will be looking to display strength as it nears its next earnings release, which is expected to be January 29, 2020. On that day, MPLX is projected to report earnings of $0.61 per share, which would represent year-over-year growth of 17.31%. Our most recent consensus estimate is calling for quarterly revenue of $2.27 billion, up 32.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.41 per share and revenue of $7.83 billion, which would represent changes of +5.24% and +21.8%, respectively, from the prior year.
Any recent changes to analyst estimates for MPLX should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MPLX is currently a Zacks Rank #3 (Hold).
In terms of valuation, MPLX is currently trading at a Forward P/E ratio of 10.47. This represents a discount compared to its industry's average Forward P/E of 17.33.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% 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.
To follow MPLX in the coming trading sessions, be sure to utilize Zacks.com.