Yahoo Finance This Top Oils and Energy Stock is a #1 (Strong Buy): Why It Should Be on Your Radar
Whether you're a growth, value, income, or momentum-focused investor, building a successful investment portfolio takes skill, research, and a little bit of luck.
Should You Buy #1 (Strong Buy)-Ranked MPLX LP (MPLX) for Your Portfolio?
MPLX LP was upgraded to the Zacks Rank #1 list on April 13, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
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.
For fiscal 2024, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.08 to $4.11 per share. MPLX boasts an average earnings surprise of 7.3%.
Earnings are forecasted to see growth of 8.2% for the current fiscal year, and sales are expected to increase 5.2%.
Even more impressive, MPLX has gained in value over the past four weeks, up 0.3% compared to the S&P 500's loss of 4%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, MPLX LP could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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