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Enbridge (ENB) Advances But Underperforms Market: Key Facts
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Enbridge (ENB - Free Report) closed at $41.15 in the latest trading session, marking a +0.19% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.77%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq gained 0.87%.
Shares of the oil and natural gas transportation and power transmission company have appreciated by 0.83% over the course of the past month, outperforming the Oils-Energy sector's loss of 1.87% and lagging the S&P 500's gain of 4.87%.
Investors will be eagerly watching for the performance of Enbridge in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 1, 2024. On that day, Enbridge is projected to report earnings of $0.44 per share, which would represent a year-over-year decline of 4.35%. Alongside, our most recent consensus estimate is anticipating revenue of $4.62 billion, indicating a 37.02% downward movement from the same quarter last year.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.08 per share and revenue of $25.91 billion. These results would represent year-over-year changes of +0.48% and -20.03%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Enbridge. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.73% increase. 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 19.79. Its industry sports an average Forward P/E of 18.19, so one might conclude that Enbridge is trading at a premium comparatively.
It is also worth noting that ENB currently has a PEG ratio of 3.96. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. ENB's industry had an average PEG ratio of 3.44 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Enbridge (ENB) Advances But Underperforms Market: Key Facts
Enbridge (ENB - Free Report) closed at $41.15 in the latest trading session, marking a +0.19% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.77%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq gained 0.87%.
Shares of the oil and natural gas transportation and power transmission company have appreciated by 0.83% over the course of the past month, outperforming the Oils-Energy sector's loss of 1.87% and lagging the S&P 500's gain of 4.87%.
Investors will be eagerly watching for the performance of Enbridge in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 1, 2024. On that day, Enbridge is projected to report earnings of $0.44 per share, which would represent a year-over-year decline of 4.35%. Alongside, our most recent consensus estimate is anticipating revenue of $4.62 billion, indicating a 37.02% downward movement from the same quarter last year.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.08 per share and revenue of $25.91 billion. These results would represent year-over-year changes of +0.48% and -20.03%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Enbridge. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.73% increase. 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 19.79. Its industry sports an average Forward P/E of 18.19, so one might conclude that Enbridge is trading at a premium comparatively.
It is also worth noting that ENB currently has a PEG ratio of 3.96. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. ENB's industry had an average PEG ratio of 3.44 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.