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Enbridge (ENB) closed the most recent trading day at $40.49, moving -1.17% from the previous trading session. This change lagged the S&P 500's daily gain of 0.22%. At the same time, the Dow lost 0.13%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 7.81% over the past month, lagging the Oils-Energy sector's loss of 4.86% and outpacing the S&P 500's loss of 8.32% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. The company is expected to report EPS of $0.57, up 3.64% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.02 billion, up 12.45% from the year-ago period.
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 should also note any recent changes to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.08% lower within the past month. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 17.23. This represents a premium compared to its industry's average Forward P/E of 13.97.
Also, we should mention that ENB has a PEG ratio of 2.87. 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 was holding an average PEG ratio of 3.88 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% 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.