In the latest trading session, Enbridge (ENB - Free Report) closed at $29.45, marking a +0.61% move from the previous day. This change outpaced the S&P 500's 0.01% gain on the day. Meanwhile, the Dow gained 0.39%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 5.09% over the past month, lagging the Oils-Energy sector's loss of 4.65% and the S&P 500's gain of 2.55% in that time.
ENB will be looking to display strength as it nears its next earnings release, which is expected to be November 6, 2020. On that day, ENB is projected to report earnings of $0.42 per share, which would represent no growth from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.95 per share and revenue of $28.56 billion, which would represent changes of -2.5% and -24.32%, respectively, from the prior year.
Any recent changes to analyst estimates for ENB should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.18% lower. ENB is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ENB has a Forward P/E ratio of 15.04 right now. This valuation marks a premium compared to its industry's average Forward P/E of 13.93.
It is also worth noting that ENB currently has a PEG ratio of 1.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ENB's industry had an average PEG ratio of 3.79 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 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.