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Enbridge (ENB) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Enbridge (ENB - Free Report) closed at $41.86, marking a -0.99% move from the previous day. This change lagged the S&P 500's 0.2% gain on the day.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 6.23% over the past month. This has lagged the Oils-Energy sector's gain of 7.49% and outpaced the S&P 500's gain of 5.66% in that time.
ENB will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2021. In that report, analysts expect ENB to post earnings of $0.46 per share. This would mark year-over-year growth of 27.78%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.24 per share and revenue of $37.71 billion. These results would represent year-over-year changes of +23.76% and +28.91%, respectively.
Any recent changes to analyst estimates for ENB should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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.
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 0.67% higher. ENB is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that ENB has a Forward P/E ratio of 18.85 right now. For comparison, its industry has an average Forward P/E of 16.78, which means ENB is trading at a premium to the group.
We can also see that ENB currently has a PEG ratio of 3.14. 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. ENB's industry had an average PEG ratio of 3.6 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 175, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.
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Enbridge (ENB) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Enbridge (ENB - Free Report) closed at $41.86, marking a -0.99% move from the previous day. This change lagged the S&P 500's 0.2% gain on the day.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 6.23% over the past month. This has lagged the Oils-Energy sector's gain of 7.49% and outpaced the S&P 500's gain of 5.66% in that time.
ENB will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2021. In that report, analysts expect ENB to post earnings of $0.46 per share. This would mark year-over-year growth of 27.78%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.24 per share and revenue of $37.71 billion. These results would represent year-over-year changes of +23.76% and +28.91%, respectively.
Any recent changes to analyst estimates for ENB should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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.
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 0.67% higher. ENB is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that ENB has a Forward P/E ratio of 18.85 right now. For comparison, its industry has an average Forward P/E of 16.78, which means ENB is trading at a premium to the group.
We can also see that ENB currently has a PEG ratio of 3.14. 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. ENB's industry had an average PEG ratio of 3.6 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 175, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.