Earnings Miss: MPLX LP (MPLX Quick QuoteMPLX - Free Report) reported fourth quarter adjusted earnings of 55 cents per unit, missing the Zacks Consensus Estimate of 61 cents.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has seen no movement in the last seven days.

Before posting Q4 earnings, MPLX LP delivered negative surprises in two of the prior four quarters. Overall, the partnership has an average negative earnings surprise of 6.27% in the trailing four quarters.

Revenues Beat: MPLX LP posted revenues of $2,316 million, beating the Zacks Consensus Estimate of $2,226 million.

Key Stats: MPLX’s operating income from Logistics and Storage segment witnessed an increase of 6.28% from the prior-year quarter to $677 million. 

Operating loss from Gathering and Processing segment was $1.02 billion compared with the $254 million income in the prior-year quarter.

Zacks Rank: Currently, MPLX LP carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

Check back later for our full write up on this MPLX LP earnings report later!

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>