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Enbridge (ENB) Dips More Than Broader Markets: What You Should Know
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Enbridge (ENB - Free Report) closed at $37.90 in the latest trading session, marking a -1.22% move from the prior day. This move lagged the S&P 500's daily loss of 0.9%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 4.91% over the past month, outpacing the Oils-Energy sector's loss of 7.04% and lagging the S&P 500's loss of 2.66% in that time.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release. On that day, Enbridge is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 1.85%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.13 per share and revenue of $40.08 billion, which would represent changes of -2.74% and +7.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Enbridge. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. The Zacks Consensus EPS estimate has moved 0.85% higher within the past month. Enbridge is currently a Zacks Rank #3 (Hold).
In terms of valuation, Enbridge is currently trading at a Forward P/E ratio of 18.03. For comparison, its industry has an average Forward P/E of 15.3, which means Enbridge is trading at a premium to the group.
We can also see that ENB currently has a PEG ratio of 3.01. 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 3.13 based on yesterday's closing prices.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Enbridge (ENB) Dips More Than Broader Markets: What You Should Know
Enbridge (ENB - Free Report) closed at $37.90 in the latest trading session, marking a -1.22% move from the prior day. This move lagged the S&P 500's daily loss of 0.9%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 4.91% over the past month, outpacing the Oils-Energy sector's loss of 7.04% and lagging the S&P 500's loss of 2.66% in that time.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release. On that day, Enbridge is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 1.85%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.13 per share and revenue of $40.08 billion, which would represent changes of -2.74% and +7.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Enbridge. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. The Zacks Consensus EPS estimate has moved 0.85% higher within the past month. Enbridge is currently a Zacks Rank #3 (Hold).
In terms of valuation, Enbridge is currently trading at a Forward P/E ratio of 18.03. For comparison, its industry has an average Forward P/E of 15.3, which means Enbridge is trading at a premium to the group.
We can also see that ENB currently has a PEG ratio of 3.01. 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 3.13 based on yesterday's closing prices.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.