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Enbridge (ENB) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Enbridge (ENB) closed at $41.10, marking a -1.3% move from the previous day. This change lagged the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.28%.

Coming into today, shares of the oil and natural gas transportation and power transmission company had lost 2.44% in the past month. In that same time, the Oils-Energy sector lost 13.93%, while the S&P 500 gained 1.51%.

Investors will be hoping for strength from Enbridge as it approaches its next earnings release, which is expected to be July 29, 2022. The company is expected to report EPS of $0.57, up 3.64% from the prior-year quarter.

ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.38 per share and revenue of $69.1 billion. These results would represent year-over-year changes of +8.68% and +85.42%, respectively.

Investors should also note any recent changes to analyst estimates for Enbridge. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 0.08% lower within the past month. Enbridge is currently sporting a Zacks Rank of #4 (Sell).

Looking at its valuation, Enbridge is holding a Forward P/E ratio of 17.52. This represents a premium compared to its industry's average Forward P/E of 13.53.

Investors should also note that ENB has a PEG ratio of 2.92 right now. 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 3.93 based on yesterday's closing prices.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 35, which puts it in the top 14% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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