MPLX LP (MPLX) Stock Moves -1.4%: What You Should Know

This story originally appeared on Zacks

MPLX LP (MPLX) closed the last trading day at $30.29, up 1.4% from the previous trading session. That change was narrower than the S&P 500’s loss of 1.94% today. Meanwhile, the Dow Jones lost 1.07%, and the tech-heavy Nasdaq lost 0.39%.

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As the day started, the company’s shares were up 2.88% in the last month. At the same time, the oil and energy sector rose 5.65%, while the S&P 500 rose 5.72%.

MPLX LP will look to show strength as it nears its next earnings release, expected February 2, 2022. The company is expected to report earnings per share of $0.74, up 17.46% from the previous quarter. Meanwhile, Zacks revenue estimates forecast net sales of $2.31 billion, up 2.59% from the same period last year.

Any recent changes to analyst estimates of MPLX LP should also be noted by investors. These reviews help show the ever-changing nature of near-term business trends. As a result, we can interpret positive rating reviews as a good sign of the company’s business outlook.

Based on our research, we believe that these discretionary reviews are directly related to stock movements close to the team. We developed Zacks Rank to take advantage of this phenomenon. Our system takes these discretionary changes into account and provides a clear and actionable rating model.

Ranging from #1 (strong buy) to #5 (strong sell), the Zacks Rank system has an impressive externally audited track record of outperformance, with the #1 stock generating +25% average annual return since 1988. The shadow Zacks Consensus EPS is flat over the past month. MPLX LP currently has a Zacks rating of #2 (Buy).

Looking at the valuation, the MPLX LP currently has a forward P/E ratio of 9.88. This represents a discount compared to the industry average forward P/E of 12.

The oil and gas industry – production and pipelines is part of the oil and energy sector. The industry currently has a Zacks Industry Rating of 60, placing it in the top 24% of all 250+ industries.

Zacks Industry Ranking measures the strength of our industry groups by measuring the average Zacks rating of the individual stocks within the groups. Our research shows that industries ranked 50% outperform the bottom half by a factor of 2 to 1.

To follow MPLX in upcoming trading sessions, be sure to use Zacks.com.

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