Yahoo Finance Why MPLX LP (MPLX) Outpaced the Stock Market Today
MPLX LP (MPLX) closed the most recent trading day at $42.43, moving +0.38% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. On the other hand, the Dow registered a loss of 0.1%, and the technology-centric Nasdaq increased by 0.16%.
Coming into today, shares of the company had gained 5.12% in the past month. In that same time, the Oils-Energy sector lost 0.69%, while the S&P 500 gained 2.83%.
The investment community will be closely monitoring the performance of MPLX LP in its forthcoming earnings report. The company is scheduled to release 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 8.48% 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.
It is also important to note the recent changes to analyst estimates for MPLX LP. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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, there's been a 0.12% rise in the Zacks Consensus EPS estimate. At present, MPLX LP boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, MPLX LP is currently exchanging hands at a Forward P/E ratio of 10.53. This represents a discount compared to its industry's average Forward P/E of 17.01.
Investors should also note that MPLX has a PEG ratio of 2.12 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MPLX's industry had an average PEG ratio of 3.23 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 40, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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MPLX LP (MPLX) : Free Stock Analysis Report
