Yahoo Finance MPLX LP (MPLX) Stock Sinks As Market Gains: What You Should Know
MPLX LP (MPLX) closed the most recent trading day at $34.85, moving -0.29% from the previous trading session. This move lagged the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 7.26%.
Prior to today's trading, shares of the company had gained 8.04% over the past month. This has outpaced the Oils-Energy sector's gain of 4.55% and the S&P 500's gain of 5.73% 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 January 31, 2023. The company is expected to report EPS of $0.84, up 7.69% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.54 billion, down 6.95% from the year-ago period.
Investors should also note any recent changes to analyst estimates for MPLX LP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.85% lower within the past month. MPLX LP is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 10.13 right now. This represents a discount compared to its industry's average Forward P/E of 16.48.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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MPLX LP (MPLX) : Free Stock Analysis Report
