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Enbridge (ENB) Outpaces Stock Market Gains: What You Should Know
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Enbridge (ENB - Free Report) closed the most recent trading day at $42, moving +1.74% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.5%. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 12.51% over the past month, outpacing the Oils-Energy sector's loss of 20.85% and lagging the S&P 500's loss of 6.54% 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.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.38 per share and revenue of $69.1 billion. These results would represent year-over-year changes of +8.68% and +85.42%, respectively.
It is also important to note the recent changes to analyst estimates for Enbridge. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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 has moved 0.08% lower. Enbridge is currently a Zacks Rank #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 17.37. For comparison, its industry has an average Forward P/E of 13.23, which means Enbridge is trading at a premium to the group.
Investors should also note that ENB has a PEG ratio of 2.9 right now. 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. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 3.91 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 83, which puts it in the top 33% 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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Enbridge (ENB) Outpaces Stock Market Gains: What You Should Know
Enbridge (ENB - Free Report) closed the most recent trading day at $42, moving +1.74% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.5%. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 12.51% over the past month, outpacing the Oils-Energy sector's loss of 20.85% and lagging the S&P 500's loss of 6.54% 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.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.38 per share and revenue of $69.1 billion. These results would represent year-over-year changes of +8.68% and +85.42%, respectively.
It is also important to note the recent changes to analyst estimates for Enbridge. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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 has moved 0.08% lower. Enbridge is currently a Zacks Rank #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 17.37. For comparison, its industry has an average Forward P/E of 13.23, which means Enbridge is trading at a premium to the group.
Investors should also note that ENB has a PEG ratio of 2.9 right now. 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. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 3.91 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 83, which puts it in the top 33% 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.