MPLX LP (MPLX) ended the recent trading session at $44.09, demonstrating a -0.52% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.

The the stock of company has risen by 1.23% in the past month, leading the Oils-Energy sector's loss of 1.87% and undershooting the S&P 500's gain of 4.87%.

The upcoming earnings release of MPLX LP will be of great interest to investors. The company's earnings report is expected on November 5, 2024. The company is forecasted to report an EPS of $1.06, showcasing a 19.1% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.06 billion, indicating a 5.1% increase compared to the same quarter of the previous year.

MPLX's full-year Zacks Consensus Estimates are calling for earnings of $4.29 per share and revenue of $11.95 billion. These results would represent year-over-year changes of +12.89% and +5.91%, respectively.

Any recent changes to analyst estimates for MPLX LP should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, MPLX LP possesses a Zacks Rank of #2 (Buy).

Digging into valuation, MPLX LP currently has a Forward P/E ratio of 10.34. For comparison, its industry has an average Forward P/E of 18.19, which means MPLX LP is trading at a discount to the group.

We can also see that MPLX currently has a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production and Pipelines industry had an average PEG ratio of 3.44 as trading concluded yesterday.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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