Enbridge (ENB) Stock Sinks As Market Gains: What You Should Know
Enbridge (ENB) closed the most recent trading day at $40.18, moving -0.59% from the previous trading session. This move lagged the S&P 500's daily gain of 1.05%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 0.97% over the past month. This has lagged the Oils-Energy sector's gain of 9.11% and outpaced the S&P 500's loss of 5.07% in that time.
Investors will be hoping for strength from ENB as it approaches its next earnings release. On that day, ENB is projected to report earnings of $0.46 per share, which would represent year-over-year growth of 27.78%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $36.58 billion. These results would represent year-over-year changes of +23.2% and +25.05%, respectively.
Investors might also notice recent changes to analyst estimates for ENB. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. ENB is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ENB has a Forward P/E ratio of 18.15 right now. For comparison, its industry has an average Forward P/E of 17.15, which means ENB is trading at a premium to the group.
We can also see that ENB currently has a PEG ratio of 3.02. 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 3.46 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 229, which puts it in the bottom 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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