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MPLX LP (MPLX) Stock Falls Amid Market Uptick: What Investors Need to Know
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The latest trading session saw MPLX LP (MPLX - Free Report) ending at $42.23, denoting a -0.31% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.64%. Meanwhile, the Dow gained 1.85%, and the Nasdaq, a tech-heavy index, added 0.2%.
Shares of the company witnessed a gain of 3.29% over the previous month, beating the performance of the Oils-Energy sector with its loss of 8% and underperforming the S&P 500's gain of 3.82%.
Investors will be eagerly watching for the performance of MPLX LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. The company's upcoming EPS is projected at $0.98, signifying a 7.69% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.92 billion, showing an 8.48% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.07 per share and a revenue of $11.82 billion, indicating changes of +7.11% and +4.82%, respectively, from the former 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MPLX LP is currently a Zacks Rank #2 (Buy).
In the context of valuation, MPLX LP is at present trading with a Forward P/E ratio of 10.4. This represents a discount compared to its industry's average Forward P/E of 17.06.
Also, we should mention that MPLX has a PEG ratio of 2.09. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Production and Pipelines industry had an average PEG ratio of 3.26.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 60, positioning it in the top 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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MPLX LP (MPLX) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw MPLX LP (MPLX - Free Report) ending at $42.23, denoting a -0.31% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.64%. Meanwhile, the Dow gained 1.85%, and the Nasdaq, a tech-heavy index, added 0.2%.
Shares of the company witnessed a gain of 3.29% over the previous month, beating the performance of the Oils-Energy sector with its loss of 8% and underperforming the S&P 500's gain of 3.82%.
Investors will be eagerly watching for the performance of MPLX LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. The company's upcoming EPS is projected at $0.98, signifying a 7.69% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.92 billion, showing an 8.48% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.07 per share and a revenue of $11.82 billion, indicating changes of +7.11% and +4.82%, respectively, from the former 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MPLX LP is currently a Zacks Rank #2 (Buy).
In the context of valuation, MPLX LP is at present trading with a Forward P/E ratio of 10.4. This represents a discount compared to its industry's average Forward P/E of 17.06.
Also, we should mention that MPLX has a PEG ratio of 2.09. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Production and Pipelines industry had an average PEG ratio of 3.26.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 60, positioning it in the top 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.