MPLX LP (MPLX) closed the latest trading day at $44.68, indicating a +1.09% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.15%.
The company's shares have seen an increase of 3.68% over the last month, surpassing the Oils-Energy sector's gain of 0.29% and the S&P 500's gain of 2%.
The investment community will be paying close attention to the earnings performance of MPLX LP in its upcoming release. The company is slated to reveal its earnings on November 5, 2024. On that day, MPLX LP is projected to report earnings of $1.06 per share, which would represent year-over-year growth of 19.1%. At the same time, our most recent consensus estimate is projecting a revenue of $3.06 billion, reflecting a 5.1% rise from the equivalent quarter last year.
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.
It is also important to note the recent changes to analyst estimates for MPLX LP. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.32% higher. Right now, MPLX LP possesses a Zacks Rank of #3 (Hold).
In terms of valuation, MPLX LP is presently being traded at a Forward P/E ratio of 10.31. For comparison, its industry has an average Forward P/E of 18.25, which means MPLX LP is trading at a discount to the group.
Investors should also note that MPLX has a PEG ratio of 1.21 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Oil and Gas - Production and Pipelines industry was having an average PEG ratio of 3.12.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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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