Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.
Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.
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 was added to the Zacks Focus List on March 26, 2024 at $40.69 per share. Since then, shares have increased 15.56% to $47.02.
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. MPLX boasts an average earnings surprise of 6.9%.
Earnings for MPLX LP are forecasted to see growth of 13.4% for the current fiscal year as well.
Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like MPLX, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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