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Enbridge (ENB) Outpaces Stock Market Gains: What You Should Know
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The most recent trading session ended with Enbridge (ENB - Free Report) standing at $41.18, reflecting a +1.1% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.13% gain on the day. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.52%.
The the stock of oil and natural gas transportation and power transmission company has risen by 5.25% in the past month, leading the Oils-Energy sector's loss of 2.9% and the S&P 500's gain of 3.67%.
The investment community will be paying close attention to the earnings performance of Enbridge in its upcoming release. On that day, Enbridge is projected to report earnings of $0.45 per share, which would represent a year-over-year decline of 2.17%. Our most recent consensus estimate is calling for quarterly revenue of $4.62 billion, down 37.02% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.06 per share and a revenue of $25.91 billion, demonstrating changes of -0.48% and -20.03%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Enbridge. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 19.77. This represents a premium compared to its industry's average Forward P/E of 17.38.
We can also see that ENB currently has a PEG ratio of 3.95. 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 2.96 based on yesterday's closing prices.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Enbridge (ENB) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with Enbridge (ENB - Free Report) standing at $41.18, reflecting a +1.1% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.13% gain on the day. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.52%.
The the stock of oil and natural gas transportation and power transmission company has risen by 5.25% in the past month, leading the Oils-Energy sector's loss of 2.9% and the S&P 500's gain of 3.67%.
The investment community will be paying close attention to the earnings performance of Enbridge in its upcoming release. On that day, Enbridge is projected to report earnings of $0.45 per share, which would represent a year-over-year decline of 2.17%. Our most recent consensus estimate is calling for quarterly revenue of $4.62 billion, down 37.02% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.06 per share and a revenue of $25.91 billion, demonstrating changes of -0.48% and -20.03%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Enbridge. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 19.77. This represents a premium compared to its industry's average Forward P/E of 17.38.
We can also see that ENB currently has a PEG ratio of 3.95. 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 2.96 based on yesterday's closing prices.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.