The most recent trading session ended with MPLX LP (MPLX) standing at $53.04, reflecting a -0.06% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 1.12%. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, added 1.46%.

Heading into today, shares of the company had gained 0.84% over the past month, outpacing the Oils-Energy sector's loss of 5.86% and the S&P 500's loss of 4.13% in that time.

The investment community will be closely monitoring the performance of MPLX LP in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.07, reflecting a 9.18% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.1 billion, up 9.04% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $4.41 per share and a revenue of $12.69 billion, demonstrating changes of +4.75% and +6.32%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for MPLX LP. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.47% upward. Currently, MPLX LP is carrying a Zacks Rank of #3 (Hold).

With respect to valuation, MPLX LP is currently being traded at a Forward P/E ratio of 12.02. Its industry sports an average Forward P/E of 17.22, so one might conclude that MPLX LP is trading at a discount comparatively.

Also, we should mention that MPLX has a PEG ratio of 1.66. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 2.73 at yesterday's closing price.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 88, positioning it in the top 36% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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