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Enbridge (ENB) Gains But Lags Market: What You Should Know
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Enbridge (ENB - Free Report) closed at $42.27 in the latest trading session, marking a +1.88% move from the prior day. This move lagged the S&P 500's daily gain of 1.89%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 0.73%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 6.17% over the past month, lagging the Oils-Energy sector's gain of 9.61% and outpacing the S&P 500's loss of 7.36% in that time.
Enbridge will be looking to display strength as it nears its next earnings release, which is expected to be February 11, 2022. On that day, Enbridge is projected to report earnings of $0.62 per share, which would represent year-over-year growth of 44.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.1 billion, up 31.54% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Enbridge. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.41% lower within the past month. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enbridge has a Forward P/E ratio of 17.03 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.87.
Investors should also note that ENB has a PEG ratio of 2.84 right now. 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. ENB's industry had an average PEG ratio of 4.96 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Enbridge (ENB) Gains But Lags Market: What You Should Know
Enbridge (ENB - Free Report) closed at $42.27 in the latest trading session, marking a +1.88% move from the prior day. This move lagged the S&P 500's daily gain of 1.89%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 0.73%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 6.17% over the past month, lagging the Oils-Energy sector's gain of 9.61% and outpacing the S&P 500's loss of 7.36% in that time.
Enbridge will be looking to display strength as it nears its next earnings release, which is expected to be February 11, 2022. On that day, Enbridge is projected to report earnings of $0.62 per share, which would represent year-over-year growth of 44.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.1 billion, up 31.54% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Enbridge. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.41% lower within the past month. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enbridge has a Forward P/E ratio of 17.03 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.87.
Investors should also note that ENB has a PEG ratio of 2.84 right now. 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. ENB's industry had an average PEG ratio of 4.96 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.
You can find more information on all of these metrics, and much more, on Zacks.com.