Yahoo Finance Why the Market Dipped But MPLX LP (MPLX) Gained Today
MPLX LP (MPLX) closed at $40.21 in the latest trading session, marking a +0.55% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
The company's shares have seen a decrease of 1.26% over the last month, not keeping up with the Oils-Energy sector's gain of 3.38% and outstripping the S&P 500's loss of 1.66%.
Market participants will be closely following the financial results of MPLX LP in its upcoming release. The company plans to announce its earnings on April 30, 2024. The company's upcoming EPS is projected at $0.99, signifying an 8.79% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.94 billion, up 8.39% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.11 per share and revenue of $11.87 billion. These totals would mark changes of +8.16% and +5.19%, respectively, from last year.
Any recent changes to analyst estimates for MPLX LP should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.63% upward. Right now, MPLX LP possesses a Zacks Rank of #1 (Strong Buy).
In the context of valuation, MPLX LP is at present trading with a Forward P/E ratio of 9.74. This represents a discount compared to its industry's average Forward P/E of 16.03.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
