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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 $37.15, moving +1.61% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.89%. Meanwhile, the Dow gained 1.2%, and the Nasdaq, a tech-heavy index, lost 0.68%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had lost 6.02% over the past month. This has was narrower than the Oils-Energy sector's loss of 9.72% and lagged the S&P 500's loss of 3.9% 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 $0.63 per share. This would mark a year-over-year decline of 4.55%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.27 per share and revenue of $37.8 billion, which would represent changes of +5.09% and -7.87%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.05% lower. Enbridge is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 16.09. Its industry sports an average Forward P/E of 13.7, so we one might conclude that Enbridge is trading at a premium comparatively.
It is also worth noting that ENB currently has a PEG ratio of 2.68. 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 3.8 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 28, putting it in the top 12% 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) Outpaces Stock Market Gains: What You Should Know
Enbridge (ENB - Free Report) closed the most recent trading day at $37.15, moving +1.61% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.89%. Meanwhile, the Dow gained 1.2%, and the Nasdaq, a tech-heavy index, lost 0.68%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had lost 6.02% over the past month. This has was narrower than the Oils-Energy sector's loss of 9.72% and lagged the S&P 500's loss of 3.9% 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 $0.63 per share. This would mark a year-over-year decline of 4.55%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.27 per share and revenue of $37.8 billion, which would represent changes of +5.09% and -7.87%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.05% lower. Enbridge is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 16.09. Its industry sports an average Forward P/E of 13.7, so we one might conclude that Enbridge is trading at a premium comparatively.
It is also worth noting that ENB currently has a PEG ratio of 2.68. 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 3.8 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 28, putting it in the top 12% 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.