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Is Enbridge (ENB) Stock Outpacing Its Oils-Energy Peers This Year?

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Investors focused on the Oils-Energy space have likely heard of Enbridge (ENB - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.

Enbridge is one of 296 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ENB is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ENB's full-year earnings has moved 1.92% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, ENB has returned 1.26% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 0.47% on a year-to-date basis. This means that Enbridge is outperforming the sector as a whole this year.

Looking more specifically, ENB belongs to the Oil and Gas - Production and Pipelines industry, which includes 14 individual stocks and currently sits at #110 in the Zacks Industry Rank. This group has gained an average of 1.58% so far this year, so ENB is slightly underperforming its industry in this area.

Investors in the Oils-Energy sector will want to keep a close eye on ENB as it attempts to continue its solid performance.


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