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Enbridge (ENB) to Report Q2 Earnings: What's in the Offing?
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EnbridgeInc. (ENB - Free Report) is set to report second-quarter 2022 results on Jul 29, before the opening bell.
In the last reported quarter, the leading North American energy infrastructure company reported earnings of 66 cents per share, missing the Zacks Consensus Estimate of 67 cents. In the trailing four quarters, Enbridge beat the Zacks Consensus Estimate twice and missed twice, delivering an earnings surprise of 3.6%, on average. This is depicted in the graph below:
The Zacks Consensus Estimate for its second-quarter earnings per share of 56 cents has witnessed no revisions in the past 30 days. The figure suggests growth of 1.8% from the year-ago reported number.
Factors to Consider
In the June 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 a favorable crude pricing scenario, exploration and production activities probably ramped up in the second quarter. Thus, higher production is likely to have driven demand for ENB’s oil pipeline.
Earnings Whispers
Our proven model does not indicate 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 -1.63%. 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:
ExxonMobil is scheduled to release second-quarter results on Jul 29. The Zacks Consensus Estimate for XOM’s earnings is pegged at $3.53 per share, suggesting an increase of 220.9% from the prior-year reported figure.
Enterprise Products Partners L.P. (EPD - Free Report) has an Earnings ESP of +2.23% and a Zacks Rank of 2.
Enterprise Products is scheduled to report second-quarter results on Aug 3. The Zacks Consensus Estimate for EPD’s earnings is pegged at 62 cents per share, suggesting a significant increase from the prior-year reported figure.
Valero Energy Corporation (VLO - Free Report) has an Earnings ESP of +10.22% and a Zacks Rank #1.
Valero Energy is scheduled to release second-quarter earnings on Jul 28. The Zacks Consensus Estimate for Valero Energy’s earnings is pegged at $8.78 per share, suggesting a massive increase from the prior-year reported figure.
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Enbridge (ENB) to Report Q2 Earnings: What's in the Offing?
EnbridgeInc. (ENB - Free Report) is set to report second-quarter 2022 results on Jul 29, before the opening bell.
In the last reported quarter, the leading North American energy infrastructure company reported earnings of 66 cents per share, missing the Zacks Consensus Estimate of 67 cents. In the trailing four quarters, Enbridge beat the Zacks Consensus Estimate twice and missed twice, delivering an earnings surprise of 3.6%, on average. This is depicted in the graph below:
Enbridge Inc Price and EPS Surprise
Enbridge Inc price-eps-surprise | Enbridge Inc Quote
Estimate Trend
The Zacks Consensus Estimate for its second-quarter earnings per share of 56 cents has witnessed no revisions in the past 30 days. The figure suggests growth of 1.8% from the year-ago reported number.
Factors to Consider
In the June 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 a favorable crude pricing scenario, exploration and production activities probably ramped up in the second quarter. Thus, higher production is likely to have driven demand for ENB’s oil pipeline.
Earnings Whispers
Our proven model does not indicate 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 -1.63%. 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:
Exxon Mobil Corporation (XOM - Free Report) has an Earnings ESP of +5.89% and is a Zacks #2 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
ExxonMobil is scheduled to release second-quarter results on Jul 29. The Zacks Consensus Estimate for XOM’s earnings is pegged at $3.53 per share, suggesting an increase of 220.9% from the prior-year reported figure.
Enterprise Products Partners L.P. (EPD - Free Report) has an Earnings ESP of +2.23% and a Zacks Rank of 2.
Enterprise Products is scheduled to report second-quarter results on Aug 3. The Zacks Consensus Estimate for EPD’s earnings is pegged at 62 cents per share, suggesting a significant increase from the prior-year reported figure.
Valero Energy Corporation (VLO - Free Report) has an Earnings ESP of +10.22% and a Zacks Rank #1.
Valero Energy is scheduled to release second-quarter earnings on Jul 28. The Zacks Consensus Estimate for Valero Energy’s earnings is pegged at $8.78 per share, suggesting a massive increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.