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Enbridge (ENB) Gains But Lags Market: What You Should Know
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Enbridge (ENB - Free Report) closed at $37.15 in the latest trading session, marking a +0.41% move from the prior day. This change lagged the S&P 500's 1.23% gain on the day. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 2.15% in the past month. In that same time, the Oils-Energy sector gained 3.61%, while the S&P 500 gained 4.67%.
Enbridge will be looking to display strength as it nears its next earnings release. On that day, Enbridge is projected to report earnings of $0.52 per share, which would represent a year-over-year decline of 1.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.41 billion, down 28.44% from the year-ago period.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.20 per share and revenue of $33.87 billion. These results would represent year-over-year changes of +1.85% and -17.46%, 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 a result, we can interpret positive estimate revisions as a good sign for 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.
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 has moved 0.23% lower within the past month. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enbridge has a Forward P/E ratio of 16.82 right now. This valuation marks a premium compared to its industry's average Forward P/E of 15.82.
We can also see that ENB currently has a PEG ratio of 2.8. 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. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 3.88 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% 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
Enbridge (ENB - Free Report) closed at $37.15 in the latest trading session, marking a +0.41% move from the prior day. This change lagged the S&P 500's 1.23% gain on the day. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 2.15% in the past month. In that same time, the Oils-Energy sector gained 3.61%, while the S&P 500 gained 4.67%.
Enbridge will be looking to display strength as it nears its next earnings release. On that day, Enbridge is projected to report earnings of $0.52 per share, which would represent a year-over-year decline of 1.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.41 billion, down 28.44% from the year-ago period.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.20 per share and revenue of $33.87 billion. These results would represent year-over-year changes of +1.85% and -17.46%, 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 a result, we can interpret positive estimate revisions as a good sign for 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.
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 has moved 0.23% lower within the past month. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enbridge has a Forward P/E ratio of 16.82 right now. This valuation marks a premium compared to its industry's average Forward P/E of 15.82.
We can also see that ENB currently has a PEG ratio of 2.8. 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. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 3.88 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% 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.