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MPLX LP (MPLX) Outpaces Stock Market Gains: What You Should Know

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MPLX LP (MPLX) closed the most recent trading day at $29.66, moving +1.75% from the previous trading session. This change outpaced the S&P 500's 1.06% gain on the day. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 0.4%.

Prior to today's trading, shares of the company had lost 11.75% over the past month. This has was narrower than the Oils-Energy sector's loss of 14.41% and lagged the S&P 500's loss of 8.3% in that time.

Wall Street will be looking for positivity from MPLX LP as it approaches its next earnings report date. This is expected to be August 2, 2022. In that report, analysts expect MPLX LP to post earnings of $0.77 per share. This would mark year-over-year growth of 16.67%. Our most recent consensus estimate is calling for quarterly revenue of $2.46 billion, up 2.61% from the year-ago period.

MPLX's full-year Zacks Consensus Estimates are calling for earnings of $3.25 per share and revenue of $10.04 billion. These results would represent year-over-year changes of +13.64% and +0.1%, respectively.

Investors might also notice recent changes to analyst estimates for MPLX LP. These revisions help to show the ever-changing nature of near-term business trends. 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. 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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 1.64% higher. MPLX LP is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, MPLX LP currently has a Forward P/E ratio of 8.98. For comparison, its industry has an average Forward P/E of 13.88, which means MPLX LP is trading at a discount to the group.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow MPLX in the coming trading sessions, be sure to utilize

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