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MPLX LP (MPLX) Stock Sinks As Market Gains: What You Should Know
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MPLX LP (MPLX - Free Report) closed at $32.77 in the latest trading session, marking a -1.65% move from the prior day. This move lagged the S&P 500's daily gain of 1.19%. Elsewhere, the Dow gained 1.34%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the company had gained 13.6% over the past month. This has outpaced the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% 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. The company is expected to report EPS of $0.81, up 9.46% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.76 billion, up 7.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.24 per share and revenue of $10.9 billion, which would represent changes of +13.29% and +8.73%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MPLX LP. These revisions help to show the ever-changing nature of near-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. 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 1.32% lower within the past month. MPLX LP is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 10.3 right now. Its industry sports an average Forward P/E of 15.18, so we one might conclude that MPLX LP is trading at a discount comparatively.
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 individual 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) Stock Sinks As Market Gains: What You Should Know
MPLX LP (MPLX - Free Report) closed at $32.77 in the latest trading session, marking a -1.65% move from the prior day. This move lagged the S&P 500's daily gain of 1.19%. Elsewhere, the Dow gained 1.34%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the company had gained 13.6% over the past month. This has outpaced the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% 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. The company is expected to report EPS of $0.81, up 9.46% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.76 billion, up 7.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.24 per share and revenue of $10.9 billion, which would represent changes of +13.29% and +8.73%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MPLX LP. These revisions help to show the ever-changing nature of near-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. 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 1.32% lower within the past month. MPLX LP is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 10.3 right now. Its industry sports an average Forward P/E of 15.18, so we one might conclude that MPLX LP is trading at a discount comparatively.
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 individual 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.