Enbridge (ENB) closed the most recent trading day at $40.23, moving -0.1% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.15%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 0.24%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 4.25% over the past month. This has lagged the Oils-Energy sector's gain of 4.51% and outpaced the S&P 500's gain of 3.88% in that time.
Investors will be hoping for strength from ENB as it approaches its next earnings release. In that report, analysts expect ENB to post earnings of $0.47 per share. This would mark a year-over-year decline of 4.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.42 billion, up 7.65% from the year-ago period.
Any recent changes to analyst estimates for ENB should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 1.7% higher within the past month. ENB is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, ENB currently has a Forward P/E ratio of 20.24. Its industry sports an average Forward P/E of 20.24, so we one might conclude that ENB is trading at a no noticeable deviation comparatively.
We can also see that ENB currently has a PEG ratio of 3.16. 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. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 4.4 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 110, which puts it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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