MPLX LP (MPLX) Stock Moves -1.4%: What You Should Know
In the latest trading session, MPLX LP (MPLX) closed at $30.29, marking a -1.4% move from the previous day.
MPLX LP (MPLX) closed the most recent trading day at $30.29, moving -1.4% from the previous trading session. This change was narrower than the S&P 500's 1.94% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Coming into today, shares of the company had gained 2.88% in the past month. In that same time, the Oils-Energy sector gained 5.65%, while the S&P 500 gained 5.72%.
MPLX LP will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2022. The company is expected to report EPS of $0.74, up 17.46% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.31 billion, up 2.59% from the year-ago period.
Any recent changes to analyst estimates for MPLX LP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MPLX LP currently has a Zacks Rank of #2 (Buy).
Digging into valuation, MPLX LP currently has a Forward P/E ratio of 9.88. This represents a discount compared to its industry's average Forward P/E of 12.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.
To follow MPLX in the coming trading sessions, be sure to utilize Zacks.com.
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