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MPLX LP (MPLX) Gains But Lags Market: What You Should Know

Zacks Equity Research
·3-min read

MPLX LP (MPLX) closed the most recent trading day at $34.41, moving +0.58% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 5.16%.

Coming into today, shares of the company had lost 1.21% in the past month. In that same time, the Oils-Energy sector lost 4.02%, while the S&P 500 gained 0.27%.

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. The company is expected to report EPS of $0.84, up 7.69% from the prior-year quarter. 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.

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Any recent changes to analyst estimates for MPLX LP should also be noted by investors. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. 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 9.86. Its industry sports an average Forward P/E of 14.16, so we 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 has a Zacks Industry Rank of 57, which puts it in the top 23% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Zacks Investment Research