Yahoo Finance MPLX LP (MPLX) Rises Yet Lags Behind Market: Some Facts Worth Knowing
MPLX LP (MPLX) closed at $41.17 in the latest trading session, marking a +0.05% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.85%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq added 1.53%.
The company's shares have seen an increase of 1.73% over the last month, surpassing the Oils-Energy sector's loss of 4.55% and falling behind the S&P 500's gain of 3.11%.
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 August 6, 2024. On that day, MPLX LP is projected to report earnings of $1 per share, which would represent year-over-year growth of 9.89%. Meanwhile, our latest consensus estimate is calling for revenue of $2.92 billion, up 8.61% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.01 per share and revenue of $11.82 billion. These totals would mark changes of +5.53% and +4.82%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for MPLX LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.5% upward. MPLX LP currently has a Zacks Rank of #3 (Hold).
In the context of valuation, MPLX LP is at present trading with a Forward P/E ratio of 10.26. This expresses a discount compared to the average Forward P/E of 16.83 of its industry.
We can also see that MPLX currently has a PEG ratio of 2.06. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Oil and Gas - Production and Pipelines industry held an average PEG ratio of 3.3.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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MPLX LP (MPLX) : Free Stock Analysis Report
