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Enbridge (ENB) Gains As Market Dips: What You Should Know
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Enbridge (ENB - Free Report) closed at $35.12 in the latest trading session, marking a +1.21% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.31%. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq decreased by 1.09%.
Shares of the oil and natural gas transportation and power transmission company witnessed a loss of 4.25% over the previous month, beating the performance of the Oils-Energy sector with its loss of 4.31% and underperforming the S&P 500's gain of 2.73%.
The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. The company is predicted to post an EPS of $0.47, indicating a 7.84% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.69 billion, showing a 26.68% drop compared to the year-ago quarter.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.13 per share and revenue of $24.55 billion. These results would represent year-over-year changes of +2.9% and -24.23%, respectively.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Enbridge is at present trading with a Forward P/E ratio of 16.27. This denotes a discount relative to the industry's average Forward P/E of 16.67.
Also, we should mention that ENB has a PEG ratio of 3.25. 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 3.18 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 39, finds itself in the top 16% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Enbridge (ENB) Gains As Market Dips: What You Should Know
Enbridge (ENB - Free Report) closed at $35.12 in the latest trading session, marking a +1.21% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.31%. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq decreased by 1.09%.
Shares of the oil and natural gas transportation and power transmission company witnessed a loss of 4.25% over the previous month, beating the performance of the Oils-Energy sector with its loss of 4.31% and underperforming the S&P 500's gain of 2.73%.
The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. The company is predicted to post an EPS of $0.47, indicating a 7.84% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.69 billion, showing a 26.68% drop compared to the year-ago quarter.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.13 per share and revenue of $24.55 billion. These results would represent year-over-year changes of +2.9% and -24.23%, respectively.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Enbridge is at present trading with a Forward P/E ratio of 16.27. This denotes a discount relative to the industry's average Forward P/E of 16.67.
Also, we should mention that ENB has a PEG ratio of 3.25. 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 3.18 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 39, finds itself in the top 16% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.