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MPLX LP (MPLX) Flat As Market Gains: What You Should Know

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MPLX LP (MPLX - Free Report) closed the most recent trading day at $31.96, making no change from the previous trading session. This change lagged the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.09%.

Heading into today, shares of the company had lost 2.65% over the past month, outpacing the Oils-Energy sector's loss of 6.46% and the S&P 500's loss of 3.6% in that time.

Investors will be hoping for strength from MPLX LP as it approaches its next earnings release, which is expected to be January 31, 2023. The company is expected to report EPS of $0.85, up 8.97% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.66 billion, down 2.6% from the year-ago period.

MPLX's full-year Zacks Consensus Estimates are calling for earnings of $3.71 per share and revenue of $11.46 billion. These results would represent year-over-year changes of +29.72% and +14.29%, respectively.

It is also important to note the recent changes to analyst estimates for MPLX LP. Recent revisions tend to reflect the latest near-term business trends. 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MPLX LP is currently sporting a Zacks Rank of #2 (Buy).

Looking at its valuation, MPLX LP is holding a Forward P/E ratio of 8.61. This represents a discount compared to its industry's average Forward P/E of 15.15.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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