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MPLX LP (MPLX) Dips More Than Broader Markets: What You Should Know
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MPLX LP (MPLX - Free Report) closed the most recent trading day at $30.73, moving -1.13% from the previous trading session. This change lagged the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 0.11%.
Prior to today's trading, shares of the company had lost 6.39% over the past month. This has lagged the Oils-Energy sector's gain of 1.45% and was narrower than the S&P 500's loss of 8.4% 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. In that report, analysts expect MPLX LP to post earnings of $0.84 per share. This would mark year-over-year growth of 13.51%. Meanwhile, our latest consensus estimate is calling for revenue of $2.52 billion, down 1.64% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.28 per share and revenue of $10.56 billion, which would represent changes of +14.69% and +5.32%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MPLX LP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. MPLX LP is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 9.48 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.86.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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MPLX LP (MPLX) Dips More Than Broader Markets: What You Should Know
MPLX LP (MPLX - Free Report) closed the most recent trading day at $30.73, moving -1.13% from the previous trading session. This change lagged the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 0.11%.
Prior to today's trading, shares of the company had lost 6.39% over the past month. This has lagged the Oils-Energy sector's gain of 1.45% and was narrower than the S&P 500's loss of 8.4% 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. In that report, analysts expect MPLX LP to post earnings of $0.84 per share. This would mark year-over-year growth of 13.51%. Meanwhile, our latest consensus estimate is calling for revenue of $2.52 billion, down 1.64% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.28 per share and revenue of $10.56 billion, which would represent changes of +14.69% and +5.32%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MPLX LP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. MPLX LP is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 9.48 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.86.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.