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Enbridge (ENB) Stock Sinks As Market Gains: What You Should Know
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Enbridge (ENB - Free Report) closed at $40.98 in the latest trading session, marking a -0.05% move from the prior day. This change lagged the S&P 500's daily gain of 0.7%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 7.5%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 4.19% in the past month. In that same time, the Oils-Energy sector gained 3.67%, while the S&P 500 lost 0.94%.
Enbridge will be looking to display strength as it nears 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%.
It is also important to note the recent changes to analyst estimates for Enbridge. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 17.95. This represents a premium compared to its industry's average Forward P/E of 16.18.
We can also see that ENB currently has a PEG ratio of 2.99. 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 4.26 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 48, putting it in the top 20% 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) Stock Sinks As Market Gains: What You Should Know
Enbridge (ENB - Free Report) closed at $40.98 in the latest trading session, marking a -0.05% move from the prior day. This change lagged the S&P 500's daily gain of 0.7%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 7.5%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 4.19% in the past month. In that same time, the Oils-Energy sector gained 3.67%, while the S&P 500 lost 0.94%.
Enbridge will be looking to display strength as it nears 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%.
It is also important to note the recent changes to analyst estimates for Enbridge. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 17.95. This represents a premium compared to its industry's average Forward P/E of 16.18.
We can also see that ENB currently has a PEG ratio of 2.99. 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 4.26 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 48, putting it in the top 20% 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.