MPLX LP (MPLX) closed at $53.21 in the latest trading session, marking a -2.31% move from the prior day. This change lagged the S&P 500's 0.79% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 1.38%.
Coming into today, shares of the company had gained 2.16% in the past month. In that same time, the Oils-Energy sector lost 2.2%, while the S&P 500 gained 0.87%.
The investment community will be paying close attention to the earnings performance of MPLX LP in its upcoming release. In that report, analysts expect MPLX LP to post earnings of $1.1 per share. This would mark year-over-year growth of 2.8%. Our most recent consensus estimate is calling for quarterly revenue of $3.4 billion, up 10.97% from the year-ago period.
MPLX's full-year Zacks Consensus Estimates are calling for earnings of $4.75 per share and revenue of $13.15 billion. These results would represent year-over-year changes of +12.83% and +10.16%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for MPLX LP. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. The Zacks Consensus EPS estimate has moved 6.93% higher within the past month. MPLX LP is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, MPLX LP is holding a Forward P/E ratio of 11.47. This indicates a discount in contrast to its industry's Forward P/E of 15.9.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 41% of over 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 Zacks.com.
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MPLX LP (MPLX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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