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Enbridge (ENB) Gains But Lags Market: What You Should Know
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Enbridge (ENB - Free Report) closed at $40.04 in the latest trading session, marking a +0.86% move from the prior day. This change lagged the S&P 500's 1.33% gain on the day. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, added 2.94%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 8.5% over the past month, outpacing the Oils-Energy sector's gain of 3.53% and the S&P 500's gain of 6.11% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. This is expected to be May 5, 2023. 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 $9.66 billion, down 18.97% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.25 per share and revenue of $37.13 billion. These totals would mark changes of +4.17% and -9.51%, respectively, from last year.
Investors should also note any 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.82% 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 17.62. For comparison, its industry has an average Forward P/E of 14.93, which means Enbridge is trading at a premium to the group.
We can also see that ENB currently has a PEG ratio of 2.94. 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 4.02 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Enbridge (ENB) Gains But Lags Market: What You Should Know
Enbridge (ENB - Free Report) closed at $40.04 in the latest trading session, marking a +0.86% move from the prior day. This change lagged the S&P 500's 1.33% gain on the day. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, added 2.94%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 8.5% over the past month, outpacing the Oils-Energy sector's gain of 3.53% and the S&P 500's gain of 6.11% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. This is expected to be May 5, 2023. 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 $9.66 billion, down 18.97% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.25 per share and revenue of $37.13 billion. These totals would mark changes of +4.17% and -9.51%, respectively, from last year.
Investors should also note any 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.82% 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 17.62. For comparison, its industry has an average Forward P/E of 14.93, which means Enbridge is trading at a premium to the group.
We can also see that ENB currently has a PEG ratio of 2.94. 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 4.02 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.