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MPLX LP (MPLX) Gains But Lags Market: What You Should Know
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MPLX LP (MPLX - Free Report) closed at $33.59 in the latest trading session, marking a +1.91% move from the prior day. This move lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Coming into today, shares of the company had gained 3.81% in the past month. In that same time, the Oils-Energy sector lost 3.23%, while the S&P 500 lost 4.61%.
Wall Street will be looking for positivity from MPLX LP as it approaches its next earnings report date. This is expected to be January 31, 2023. On that day, MPLX LP is projected to report earnings of $0.86 per share, which would represent year-over-year growth of 10.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.66 billion, down 2.6% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MPLX LP currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, MPLX LP is holding a Forward P/E ratio of 9.38. This valuation marks a discount compared to its industry's average Forward P/E of 15.39.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains But Lags Market: What You Should Know
MPLX LP (MPLX - Free Report) closed at $33.59 in the latest trading session, marking a +1.91% move from the prior day. This move lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Coming into today, shares of the company had gained 3.81% in the past month. In that same time, the Oils-Energy sector lost 3.23%, while the S&P 500 lost 4.61%.
Wall Street will be looking for positivity from MPLX LP as it approaches its next earnings report date. This is expected to be January 31, 2023. On that day, MPLX LP is projected to report earnings of $0.86 per share, which would represent year-over-year growth of 10.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.66 billion, down 2.6% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MPLX LP currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, MPLX LP is holding a Forward P/E ratio of 9.38. This valuation marks a discount compared to its industry's average Forward P/E of 15.39.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.