Yahoo Finance Earnings Growth & Price Strength Make MPLX LP (MPLX) a Stock to Watch
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.
Why You Should Pay Attention to MPLX LP (MPLX)
Findlay, OH-based MPLX LP is a master limited partnership (MLP) engaged in providing a wide range of midstream energy services, including fuel distribution solutions. The large-cap partnership was created in 2012 to own, operate and develop midstream energy infrastructures and logistics assets, mostly for its parent company Marathon Petroleum Corporation. Notably, Marathon Petroleum holds around 64% of MPLX's outstanding common units.
Since being added to the Zacks Focus List on March 26, 2024 at $40.69 per share, shares of MPLX have increased 2.41% to $41.67.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.07 to $3.99. MPLX also boasts an average earnings surprise of 4.6%.
Earnings for MPLX LP are forecasted to see growth of 5% for the current fiscal year as well.
It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like MPLX, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.
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MPLX LP (MPLX) : Free Stock Analysis Report
