Enbridge Inc. (ENB - Free Report) is set to report fourth-quarter 2022 results on Feb 10, before the opening bell.
In the last reported quarter, the leading North America energy infrastructure company’s adjusted earnings per share of 51 cents beat the Zacks Consensus Estimate by a penny due to higher contributions from the Liquids Pipelines segment.
In the trailing four quarters, Enbridge beat the Zacks Consensus Estimate for earnings once and missed the same thrice, delivering a negative surprise of 4.1%, on average. This is depicted in the graph below:
Estimate Trend
The Zacks Consensus Estimate for the company’s fourth-quarter earnings per share of 56 cents has witnessed two upward revisions and one downward movement in the past 30 days. The figure suggests growth of 3.7% from the year-ago reported number.
Factors to Consider
In the December-end quarter, Enbridge is likely to have generated stable fee-based revenues as it is a leading midstream player in North America. It has a vast pipeline network responsible for transporting roughly 30% of the crude oil produced in the continent. With the favorable crude price scenario, exploration and production activities are expected to have ramped up in the fourth quarter. Thus, higher production is likely to have driven the demand for the company’s oil pipeline.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Enbridge this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. As you can see, that is not the case here.
Earnings ESP: Enbridge has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Enbridge currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies from the Energy space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Sunoco LP (SUN - Free Report) has an Earnings ESP of +1.95% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco is scheduled to release fourth-quarter earnings on Feb 15. The Zacks Consensus Estimate for SUN’s earnings is pegged at 77 cents per share, suggesting a decline from the prior-year quarter’s reported figure.
Antero Midstream Corporation (AM - Free Report) has an Earnings ESP of +1.45% and a Zacks Rank of 2.
Antero Midstream is scheduled to report fourth-quarter results on Feb 15. The Zacks Consensus Estimate for AM’s earnings is pegged at 17 cents per share, suggesting a decline from the prior-year reported figure.
Oceaneering International, Inc. (OII - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank of 3.
Oceaneering is scheduled to release fourth-quarter results on Feb 23. The Zacks Consensus Estimate for OII’s quarterly earnings is pegged at 17 cents per share, suggesting an increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
Enbridge Inc. (ENB - Free Report) is set to report fourth-quarter 2022 results on Feb 10, before the opening bell.
In the last reported quarter, the leading North America energy infrastructure company’s adjusted earnings per share of 51 cents beat the Zacks Consensus Estimate by a penny due to higher contributions from the Liquids Pipelines segment.
In the trailing four quarters, Enbridge beat the Zacks Consensus Estimate for earnings once and missed the same thrice, delivering a negative surprise of 4.1%, on average. This is depicted in the graph below:
Estimate Trend
The Zacks Consensus Estimate for the company’s fourth-quarter earnings per share of 56 cents has witnessed two upward revisions and one downward movement in the past 30 days. The figure suggests growth of 3.7% from the year-ago reported number.
Factors to Consider
In the December-end quarter, Enbridge is likely to have generated stable fee-based revenues as it is a leading midstream player in North America. It has a vast pipeline network responsible for transporting roughly 30% of the crude oil produced in the continent. With the favorable crude price scenario, exploration and production activities are expected to have ramped up in the fourth quarter. Thus, higher production is likely to have driven the demand for the company’s oil pipeline.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Enbridge this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. As you can see, that is not the case here.
Earnings ESP: Enbridge has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Enbridge currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies from the Energy space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Sunoco LP (SUN - Free Report) has an Earnings ESP of +1.95% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco is scheduled to release fourth-quarter earnings on Feb 15. The Zacks Consensus Estimate for SUN’s earnings is pegged at 77 cents per share, suggesting a decline from the prior-year quarter’s reported figure.
Antero Midstream Corporation (AM - Free Report) has an Earnings ESP of +1.45% and a Zacks Rank of 2.
Antero Midstream is scheduled to report fourth-quarter results on Feb 15. The Zacks Consensus Estimate for AM’s earnings is pegged at 17 cents per share, suggesting a decline from the prior-year reported figure.
Oceaneering International, Inc. (OII - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank of 3.
Oceaneering is scheduled to release fourth-quarter results on Feb 23. The Zacks Consensus Estimate for OII’s quarterly earnings is pegged at 17 cents per share, suggesting an increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
Get the latest research report on SUN - FREE
Get the latest research report on AM - FREE
Get the latest research report on OII - FREE
Get the latest research report on ENB - FREE