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Enbridge (ENB) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Enbridge (ENB - Free Report) closed at $37.36, marking a -0.29% move from the previous day. This move lagged the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 1.99% in the past month. In that same time, the Oils-Energy sector gained 8.02%, while the S&P 500 gained 5.14%.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release, which is expected to be August 4, 2023. The company is expected to report EPS of $0.52, down 1.89% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.49 billion, down 27.64% from the prior-year quarter.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.20 per share and revenue of $32.9 billion. These results would represent year-over-year changes of +1.85% and -19.83%, respectively.
Investors might also notice recent changes to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.08% higher. Enbridge is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Enbridge has a Forward P/E ratio of 17.02 right now. This represents a premium compared to its industry's average Forward P/E of 16.87.
We can also see that ENB currently has a PEG ratio of 2.84. 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. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 4.92 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 121, putting it in the top 49% 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.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.
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Enbridge (ENB) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Enbridge (ENB - Free Report) closed at $37.36, marking a -0.29% move from the previous day. This move lagged the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 1.99% in the past month. In that same time, the Oils-Energy sector gained 8.02%, while the S&P 500 gained 5.14%.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release, which is expected to be August 4, 2023. The company is expected to report EPS of $0.52, down 1.89% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.49 billion, down 27.64% from the prior-year quarter.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.20 per share and revenue of $32.9 billion. These results would represent year-over-year changes of +1.85% and -19.83%, respectively.
Investors might also notice recent changes to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.08% higher. Enbridge is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Enbridge has a Forward P/E ratio of 17.02 right now. This represents a premium compared to its industry's average Forward P/E of 16.87.
We can also see that ENB currently has a PEG ratio of 2.84. 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. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 4.92 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 121, putting it in the top 49% 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.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.