Yahoo Finance MPLX LP (MPLX) Gains But Lags Market: What You Should Know
MPLX LP (MPLX) closed the latest trading day at $41.48, indicating a +0.7% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.2% for the day. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 1.59%.
Shares of the company witnessed a gain of 1.23% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.58% and outperforming the S&P 500's loss of 4.16%.
The investment community will be paying close attention to the earnings performance of MPLX LP in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. It is anticipated that the company will report an EPS of $0.99, marking an 8.79% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.94 billion, up 8.39% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.11 per share and revenue of $11.87 billion, indicating changes of +8.16% and +5.19%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for MPLX LP. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.57% higher within the past month. MPLX LP is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, MPLX LP is currently trading at a Forward P/E ratio of 10.03. Its industry sports an average Forward P/E of 16.55, so one might conclude that MPLX LP is trading at a discount comparatively.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 34, finds itself in the top 14% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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MPLX LP (MPLX) : Free Stock Analysis Report
