Enbridge (ENB) closed the most recent trading day at $31.25, moving -0.6% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.31%, and the tech-heavy Nasdaq lost 2.29%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 4.45% over the past month. This has outpaced the Oils-Energy sector's loss of 0.18% and lagged the S&P 500's gain of 5.2% in that time.
Wall Street will be looking for positivity from ENB as it approaches its next earnings report date. This is expected to be July 29, 2020. On that day, ENB is projected to report earnings of $0.41 per share, which would represent a year-over-year decline of 18%. Our most recent consensus estimate is calling for quarterly revenue of $8.32 billion, down 16.09% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.94 per share and revenue of $33.13 billion. These totals would mark changes of -3% and -12.18%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for ENB. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 1.84% higher. ENB is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ENB is holding a Forward P/E ratio of 16.21. For comparison, its industry has an average Forward P/E of 16.84, which means ENB is trading at a discount to the group.
Meanwhile, ENB's PEG ratio is currently 1.68. 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. ENB's industry had an average PEG ratio of 3.6 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 96, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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