For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Findlay, OH-based MPLX LP is a master limited partnership (MLP) engaged in providing a wide range of midstream energy services, including fuel distribution solutions. The large-cap partnership was created in 2012 to own, operate and develop midstream energy infrastructures and logistics assets, mostly for its parent company Marathon Petroleum Corporation. Notably, Marathon Petroleum holds around 64% of MPLX's outstanding common units.
MPLX is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are up 5.9% over the past one week and up 7% over the past four weeks. MPLX has gained 33.3% in the last one-year period as well. Looking at trading volume, an average of 1,561,317.75 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.02 to $4.31 per share. MPLX boasts an average earnings surprise of 6.9%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding MPLX to their portfolios.
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