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Enbridge (ENB) Advances While Market Declines: Some Information for Investors
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In the latest market close, Enbridge (ENB - Free Report) reached $41.14, with a +1.31% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.93%. On the other hand, the Dow registered a loss of 0.41%, and the technology-centric Nasdaq decreased by 1.53%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 1.07% over the past month. This has outpaced the Oils-Energy sector's loss of 2.51% and lagged the S&P 500's gain of 2.17% in that time.
Market participants will be closely following the financial results 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%. Simultaneously, our latest consensus estimate expects the revenue to be $4.62 billion, showing a 37.02% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.08 per share and a revenue of $25.91 billion, demonstrating changes of +0.48% and -20.03%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Enbridge. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. The Zacks Consensus EPS estimate has moved 0.97% higher within the past month. Currently, Enbridge is carrying a Zacks Rank of #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 19.52. This valuation marks a premium compared to its industry's average Forward P/E of 17.52.
Also, we should mention that ENB has a PEG ratio of 3.9. 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 average PEG ratio for the Oil and Gas - Production and Pipelines industry stood at 3.07 at the close of the market yesterday.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 147, placing it within the bottom 42% of over 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) Advances While Market Declines: Some Information for Investors
In the latest market close, Enbridge (ENB - Free Report) reached $41.14, with a +1.31% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.93%. On the other hand, the Dow registered a loss of 0.41%, and the technology-centric Nasdaq decreased by 1.53%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 1.07% over the past month. This has outpaced the Oils-Energy sector's loss of 2.51% and lagged the S&P 500's gain of 2.17% in that time.
Market participants will be closely following the financial results 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%. Simultaneously, our latest consensus estimate expects the revenue to be $4.62 billion, showing a 37.02% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.08 per share and a revenue of $25.91 billion, demonstrating changes of +0.48% and -20.03%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Enbridge. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. The Zacks Consensus EPS estimate has moved 0.97% higher within the past month. Currently, Enbridge is carrying a Zacks Rank of #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 19.52. This valuation marks a premium compared to its industry's average Forward P/E of 17.52.
Also, we should mention that ENB has a PEG ratio of 3.9. 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 average PEG ratio for the Oil and Gas - Production and Pipelines industry stood at 3.07 at the close of the market yesterday.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 147, placing it within the bottom 42% of over 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.