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Enbridge (ENB) closed at $43.08 in the latest trading session, marking a -0.16% move from the prior day. This change lagged the S&P 500's 0.59% gain on the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq lost 0.02%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 4% over the past month. This has outpaced the Oils-Energy sector's gain of 0.29% and lagged the S&P 500's gain of 7.25% in that time.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release, which is expected to be July 29, 2022. The company is expected to report EPS of $0.57, up 3.64% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.38 per share and revenue of $69.1 billion. These totals would mark changes of +8.68% and +85.42%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.08% lower. Enbridge is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 18.16. This valuation marks a premium compared to its industry's average Forward P/E of 13.81.
Also, we should mention that ENB has a PEG ratio of 3.03. 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 4.04 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 24, which puts it in the top 10% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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