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Enbridge (ENB) Stock Moves -0.31%: What You Should Know
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Enbridge (ENB - Free Report) closed at $38.89 in the latest trading session, marking a -0.31% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 0.49% over the past month. This has outpaced the Oils-Energy sector's loss of 1.82% and lagged the S&P 500's gain of 2% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. The company is expected to report EPS of $0.62, down 6.06% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.6 billion, down 19.47% from the year-ago period.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.26 per share and revenue of $37.01 billion. These results would represent year-over-year changes of +4.63% and -9.8%, 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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.79% lower. Enbridge currently has a Zacks Rank of #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 17.3. This valuation marks a premium compared to its industry's average Forward P/E of 14.87.
Meanwhile, ENB's PEG ratio is currently 2.88. 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 3.94 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 59, putting it in the top 24% 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) Stock Moves -0.31%: What You Should Know
Enbridge (ENB - Free Report) closed at $38.89 in the latest trading session, marking a -0.31% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 0.49% over the past month. This has outpaced the Oils-Energy sector's loss of 1.82% and lagged the S&P 500's gain of 2% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. The company is expected to report EPS of $0.62, down 6.06% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.6 billion, down 19.47% from the year-ago period.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.26 per share and revenue of $37.01 billion. These results would represent year-over-year changes of +4.63% and -9.8%, 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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.79% lower. Enbridge currently has a Zacks Rank of #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 17.3. This valuation marks a premium compared to its industry's average Forward P/E of 14.87.
Meanwhile, ENB's PEG ratio is currently 2.88. 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 3.94 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 59, putting it in the top 24% 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.