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Here's Why Enbridge (ENB) Fell More Than Broader Market
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In the latest trading session, Enbridge (ENB - Free Report) closed at $35.35, marking a -1.59% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 1.47% for the day. Elsewhere, the Dow saw a downswing of 1.27%, while the tech-heavy Nasdaq depreciated by 1.5%.
Shares of the oil and natural gas transportation and power transmission company have appreciated by 6.08% over the course of the past month, outperforming the Oils-Energy sector's gain of 1.46% and the S&P 500's gain of 5.77%.
The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. On that day, Enbridge is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 10.87%. Meanwhile, our latest consensus estimate is calling for revenue of $9.6 billion, down 2.89% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.02 per share and a revenue of $33.04 billion, signifying shifts of -6.48% and -19.47%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Enbridge. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.01% higher within the past month. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 17.78. This indicates a premium in contrast to its industry's Forward P/E of 17.76.
Meanwhile, ENB's PEG ratio is currently 2.96. 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 had an average PEG ratio of 4.85 as trading concluded yesterday.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Enbridge (ENB) Fell More Than Broader Market
In the latest trading session, Enbridge (ENB - Free Report) closed at $35.35, marking a -1.59% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 1.47% for the day. Elsewhere, the Dow saw a downswing of 1.27%, while the tech-heavy Nasdaq depreciated by 1.5%.
Shares of the oil and natural gas transportation and power transmission company have appreciated by 6.08% over the course of the past month, outperforming the Oils-Energy sector's gain of 1.46% and the S&P 500's gain of 5.77%.
The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. On that day, Enbridge is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 10.87%. Meanwhile, our latest consensus estimate is calling for revenue of $9.6 billion, down 2.89% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.02 per share and a revenue of $33.04 billion, signifying shifts of -6.48% and -19.47%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Enbridge. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.01% higher within the past month. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 17.78. This indicates a premium in contrast to its industry's Forward P/E of 17.76.
Meanwhile, ENB's PEG ratio is currently 2.96. 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 had an average PEG ratio of 4.85 as trading concluded yesterday.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.