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Enbridge (ENB) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Enbridge (ENB - Free Report) closed at $35.02, marking a -0.2% move from the previous day. This change lagged the S&P 500's 0.07% gain on the day. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 0.01%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 0.63% over the past month. This has lagged the Oils-Energy sector's gain of 5.62% and outpaced the S&P 500's gain of 0.38% in that time.
Enbridge will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.45, down 11.76% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.31 billion, down 6.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.32 per share and revenue of $34.29 billion. These totals would mark changes of +7.41% and -16.43%, respectively, from last 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. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.71% lower within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 15.15. Its industry sports an average Forward P/E of 15.32, so we one might conclude that Enbridge is trading at a discount comparatively.
Meanwhile, ENB's PEG ratio is currently 2.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 4.94 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 94, putting it in the top 38% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Enbridge (ENB - Free Report) closed at $35.02, marking a -0.2% move from the previous day. This change lagged the S&P 500's 0.07% gain on the day. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 0.01%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 0.63% over the past month. This has lagged the Oils-Energy sector's gain of 5.62% and outpaced the S&P 500's gain of 0.38% in that time.
Enbridge will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.45, down 11.76% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.31 billion, down 6.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.32 per share and revenue of $34.29 billion. These totals would mark changes of +7.41% and -16.43%, respectively, from last 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. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.71% lower within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 15.15. Its industry sports an average Forward P/E of 15.32, so we one might conclude that Enbridge is trading at a discount comparatively.
Meanwhile, ENB's PEG ratio is currently 2.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 4.94 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 94, putting it in the top 38% 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.