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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 the most recent trading day at $33.71, moving -0.62% from the previous trading session. This change lagged the S&P 500's 1.76% gain on the day. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 3.03%.
Coming into today, shares of the company had lost 3.11% in the past month. In that same time, the Oils-Energy sector lost 12.2%, while the S&P 500 lost 5.94%.
Wall Street will be looking for positivity from MPLX LP as it approaches its next earnings report date. This is expected to be May 2, 2023. In that report, analysts expect MPLX LP to post earnings of $0.84 per share. This would mark year-over-year growth of 7.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, down 1.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.47 per share and revenue of $10.34 billion. These totals would mark changes of -7.47% and -10.96%, respectively, from last year.
Any recent changes to analyst estimates for MPLX LP should also be noted by investors. 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.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. MPLX LP is currently a Zacks Rank #3 (Hold).
Investors should also note MPLX LP's current valuation metrics, including its Forward P/E ratio of 9.78. This valuation marks a discount compared to its industry's average Forward P/E of 13.93.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% 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.
Be sure to follow all of these stock-moving metrics, and many 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 the most recent trading day at $33.71, moving -0.62% from the previous trading session. This change lagged the S&P 500's 1.76% gain on the day. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 3.03%.
Coming into today, shares of the company had lost 3.11% in the past month. In that same time, the Oils-Energy sector lost 12.2%, while the S&P 500 lost 5.94%.
Wall Street will be looking for positivity from MPLX LP as it approaches its next earnings report date. This is expected to be May 2, 2023. In that report, analysts expect MPLX LP to post earnings of $0.84 per share. This would mark year-over-year growth of 7.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, down 1.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.47 per share and revenue of $10.34 billion. These totals would mark changes of -7.47% and -10.96%, respectively, from last year.
Any recent changes to analyst estimates for MPLX LP should also be noted by investors. 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.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. MPLX LP is currently a Zacks Rank #3 (Hold).
Investors should also note MPLX LP's current valuation metrics, including its Forward P/E ratio of 9.78. This valuation marks a discount compared to its industry's average Forward P/E of 13.93.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.