Enbridge (ENB) Stock Sinks As Market Gains: What You Should Know
Enbridge (ENB) closed the most recent trading day at $39.79, moving -0.38% from the previous trading session. This change lagged the S&P 500's 0.82% gain on the day.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 8.71% over the past month. This has outpaced the Oils-Energy sector's gain of 4.31% and the S&P 500's gain of 2.31% in that time.
ENB will be looking to display strength as it nears its next earnings release, which is expected to be May 7, 2021. The company is expected to report EPS of $0.56, down 9.68% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.05 per share and revenue of $31.31 billion, which would represent changes of +13.26% and +7.02%, respectively, from the prior 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 0.63% lower within the past month. ENB is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ENB is holding a Forward P/E ratio of 19.46. This represents a premium compared to its industry's average Forward P/E of 16.41.
Meanwhile, ENB's PEG ratio is currently 3.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 3.28 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 208, putting it in the bottom 19% 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.
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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