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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 $34.47, moving -0.89% from the previous trading session. This change lagged the S&P 500's 0.58% loss on the day. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Coming into today, shares of the company had lost 0.46% in the past month. In that same time, the Oils-Energy sector lost 1.82%, while the S&P 500 gained 2%.
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, our latest consensus estimate is calling for revenue of $2.56 billion, down 1.85% from the prior-year quarter.
MPLX's full-year Zacks Consensus Estimates are calling for earnings of $3.47 per share and revenue of $10.34 billion. These results would represent year-over-year changes of -7.47% and -10.93%, respectively.
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. Within the past 30 days, our consensus EPS projection has moved 0.05% higher. MPLX LP is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, MPLX LP is holding a Forward P/E ratio of 10.03. This represents a discount compared to its industry's average Forward P/E of 14.87.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
To follow MPLX in the coming trading sessions, be sure to utilize Zacks.com.
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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 $34.47, moving -0.89% from the previous trading session. This change lagged the S&P 500's 0.58% loss on the day. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Coming into today, shares of the company had lost 0.46% in the past month. In that same time, the Oils-Energy sector lost 1.82%, while the S&P 500 gained 2%.
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, our latest consensus estimate is calling for revenue of $2.56 billion, down 1.85% from the prior-year quarter.
MPLX's full-year Zacks Consensus Estimates are calling for earnings of $3.47 per share and revenue of $10.34 billion. These results would represent year-over-year changes of -7.47% and -10.93%, respectively.
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. Within the past 30 days, our consensus EPS projection has moved 0.05% higher. MPLX LP is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, MPLX LP is holding a Forward P/E ratio of 10.03. This represents a discount compared to its industry's average Forward P/E of 14.87.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
To follow MPLX in the coming trading sessions, be sure to utilize Zacks.com.