Enbridge (ENB) Flat As Market Gains: What You Should Know
The latest trading session saw Enbridge (ENB) ending at $35.52, denoting no adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.82%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 3.2% in the past month. In that same time, the Oils-Energy sector gained 4.4%, while the S&P 500 gained 1.76%.
The upcoming earnings release of Enbridge will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.59, reflecting a 6.35% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $9.91 billion, up 10.97% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.11 per share and revenue of $34.52 billion, which would represent changes of +1.93% and +6.54%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 16.83. This valuation marks a premium compared to its industry's average Forward P/E of 15.26.
One should further note that ENB currently holds a PEG ratio of 3.37. 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 average PEG ratio for the Oil and Gas - Production and Pipelines industry stood at 4.31 at the close of the market yesterday.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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Enbridge Inc (ENB) : Free Stock Analysis Report
