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Enbridge (ENB) Gains As Market Dips: What You Should Know
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Enbridge (ENB - Free Report) closed the most recent trading day at $43.38, moving +1.19% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.37%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 5.64% over the past month. This has lagged the Oils-Energy sector's gain of 9.18% and outpaced the S&P 500's loss of 6.01% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. This is expected to be February 11, 2022. On that day, Enbridge is projected to report earnings of $0.61 per share, which would represent year-over-year growth of 41.86%. Meanwhile, our latest consensus estimate is calling for revenue of $10.1 billion, up 31.54% from the prior-year quarter.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.41% lower. Enbridge is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 17.6. This valuation marks a premium compared to its industry's average Forward P/E of 15.3.
Investors should also note that ENB has a PEG ratio of 2.93 right now. 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. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 5.1 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 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 As Market Dips: What You Should Know
Enbridge (ENB - Free Report) closed the most recent trading day at $43.38, moving +1.19% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.37%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 5.64% over the past month. This has lagged the Oils-Energy sector's gain of 9.18% and outpaced the S&P 500's loss of 6.01% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. This is expected to be February 11, 2022. On that day, Enbridge is projected to report earnings of $0.61 per share, which would represent year-over-year growth of 41.86%. Meanwhile, our latest consensus estimate is calling for revenue of $10.1 billion, up 31.54% from the prior-year quarter.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.41% lower. Enbridge is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 17.6. This valuation marks a premium compared to its industry's average Forward P/E of 15.3.
Investors should also note that ENB has a PEG ratio of 2.93 right now. 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. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 5.1 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 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.