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MPLX LP (MPLX) Stock Sinks As Market Gains: Here's Why

MPLX LP (MPLX) closed at $40.81 in the latest trading session, marking a -0.49% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.25%. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.03%.

The the stock of company has risen by 0.37% in the past month, leading the Oils-Energy sector's loss of 5.99% and undershooting the S&P 500's gain of 3.34%.

The investment community will be closely monitoring the performance of MPLX LP in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2024. The company is predicted to post an EPS of $1, indicating a 9.89% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.92 billion, up 8.48% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $4.01 per share and revenue of $11.82 billion, which would represent changes of +5.53% and +4.82%, respectively, from the prior year.

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Investors should also note any recent changes to analyst estimates for MPLX LP. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.5% higher. MPLX LP is holding a Zacks Rank of #3 (Hold) right now.

Looking at valuation, MPLX LP is presently trading at a Forward P/E ratio of 10.22. For comparison, its industry has an average Forward P/E of 16.64, which means MPLX LP is trading at a discount to the group.

Meanwhile, MPLX's PEG ratio is currently 2.05. 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 3.19 based on yesterday's closing prices.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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