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Enbridge (ENB) Gains But Lags Market: What You Should Know
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In the latest trading session, Enbridge (ENB - Free Report) closed at $39.27, marking a +1.19% move from the previous day. This change lagged the S&P 500's 1.75% gain on the day. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 7.84%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 6.01% over the past month, lagging the Oils-Energy sector's loss of 3.11% and the S&P 500's loss of 4.4% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. In that report, analysts expect Enbridge to post earnings of $0.55 per share. This would mark year-over-year growth of 1.85%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.13 per share and revenue of $40.08 billion. These results would represent year-over-year changes of -2.74% and +7.54%, respectively.
It is also important to note the recent changes to analyst estimates for Enbridge. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 0.56% 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 18.24. Its industry sports an average Forward P/E of 13.88, so we one might conclude that Enbridge is trading at a premium comparatively.
Investors should also note that ENB has a PEG ratio of 3.04 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 3.18 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 37, putting it in the top 15% 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.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.
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Enbridge (ENB) Gains But Lags Market: What You Should Know
In the latest trading session, Enbridge (ENB - Free Report) closed at $39.27, marking a +1.19% move from the previous day. This change lagged the S&P 500's 1.75% gain on the day. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 7.84%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 6.01% over the past month, lagging the Oils-Energy sector's loss of 3.11% and the S&P 500's loss of 4.4% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. In that report, analysts expect Enbridge to post earnings of $0.55 per share. This would mark year-over-year growth of 1.85%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.13 per share and revenue of $40.08 billion. These results would represent year-over-year changes of -2.74% and +7.54%, respectively.
It is also important to note the recent changes to analyst estimates for Enbridge. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 0.56% 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 18.24. Its industry sports an average Forward P/E of 13.88, so we one might conclude that Enbridge is trading at a premium comparatively.
Investors should also note that ENB has a PEG ratio of 3.04 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 3.18 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 37, putting it in the top 15% 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.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.