Enbridge (ENB) closed at $35.83 in the latest trading session, marking a -1.27% move from the prior day. This change lagged the S&P 500's 0.62% loss on the day. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.74%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 2.46% in the past month. In that same time, the Oils-Energy sector gained 0.03%, while the S&P 500 gained 2.8%.
Wall Street will be looking for positivity from ENB as it approaches its next earnings report date. This is expected to be August 2, 2019. On that day, ENB is projected to report earnings of $0.42 per share, which would represent a year-over-year decline of 32.26%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $1.96 per share and revenue of $37.15 billion. These results would represent year-over-year changes of -4.39% and -3.45%, respectively.
It is also important to note the recent changes to analyst estimates for ENB. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.94% higher within the past month. ENB is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ENB currently has a Forward P/E ratio of 18.54. This valuation marks a premium compared to its industry's average Forward P/E of 16.39.
It is also worth noting that ENB currently has a PEG ratio of 2.76. 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. ENB's industry had an average PEG ratio of 4.45 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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.
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