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MPLX LP (MPLX) Stock Sinks As Market Gains: Here's Why
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MPLX LP (MPLX - Free Report) ended the recent trading session at $44.46, demonstrating a -0.49% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.42% for the day. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.38%.
The company's stock has climbed by 4.2% in the past month, exceeding the Oils-Energy sector's loss of 2.47% and the S&P 500's gain of 2.06%.
Investors will be eagerly watching for the performance of MPLX LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 5, 2024. The company's upcoming EPS is projected at $1.06, signifying a 19.1% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.06 billion, up 5.1% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.29 per share and a revenue of $11.95 billion, signifying shifts of +12.89% and +5.91%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for MPLX LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. MPLX LP is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 10.42 right now. This denotes a discount relative to the industry's average Forward P/E of 17.38.
It is also worth noting that MPLX currently has a PEG ratio of 1.22. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry had an average PEG ratio of 3.03 as trading concluded yesterday.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 Zacks.com.
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MPLX LP (MPLX) Stock Sinks As Market Gains: Here's Why
MPLX LP (MPLX - Free Report) ended the recent trading session at $44.46, demonstrating a -0.49% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.42% for the day. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.38%.
The company's stock has climbed by 4.2% in the past month, exceeding the Oils-Energy sector's loss of 2.47% and the S&P 500's gain of 2.06%.
Investors will be eagerly watching for the performance of MPLX LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 5, 2024. The company's upcoming EPS is projected at $1.06, signifying a 19.1% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.06 billion, up 5.1% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.29 per share and a revenue of $11.95 billion, signifying shifts of +12.89% and +5.91%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for MPLX LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. MPLX LP is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 10.42 right now. This denotes a discount relative to the industry's average Forward P/E of 17.38.
It is also worth noting that MPLX currently has a PEG ratio of 1.22. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry had an average PEG ratio of 3.03 as trading concluded yesterday.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 Zacks.com.