Yahoo Finance New to Investing? This 1 Oils and Energy Stock Could Be the Perfect Starting Point
If you're a beginner investor, the idea of creating a portfolio from the ground up can feel like an impossible goal to achieve. That's why you should start by looking at stocks that are set to beat the market over the next 12 months, a strategy that's been proven to generate strong returns.
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.
On March 26, 2024, MPLX was added to the Zacks Focus List at $40.69 per share. Shares have increased 1.23% to $41.19 since then.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.08 to $4.11. MPLX boasts an average earnings surprise of 7.3%.
Moreover, analysts are expecting MPLX LP's earnings to grow 8.2% for the current fiscal year.
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
