Enbridge (ENB) Outpaces Stock Market Gains: What You Should Know
Enbridge (ENB) closed at $37.63 in the latest trading session, marking a +0.51% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.47%. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 0.74%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 11.73% over the past month, outpacing the Oils-Energy sector's gain of 7.05% and the S&P 500's gain of 7.71% in that time.
Investors will be hoping for strength from ENB as it approaches its next earnings release, which is expected to be February 15, 2019. The company is expected to report EPS of $0.45, down 6.25% from the prior-year quarter.
Any recent changes to analyst estimates for ENB should also be noted by investors. These revisions help to show the ever-changing nature of near-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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.23% higher. ENB is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note ENB's current valuation metrics, including its Forward P/E ratio of 21.66. For comparison, its industry has an average Forward P/E of 16.93, which means ENB is trading at a premium to the group.
Investors should also note that ENB has a PEG ratio of 2.27 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 2.69 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 156, which puts it in the bottom 39% 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.
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
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