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Enbridge (ENB) Gains But Lags Market: What You Should Know
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Enbridge (ENB - Free Report) closed at $37.34 in the latest trading session, marking a +0.81% move from the prior day. This change lagged the S&P 500's 1.14% gain on the day. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.05%.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release, which is expected to be November 4, 2022. On that day, Enbridge is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 12.77%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.30 per share and revenue of $44.69 billion, which would represent changes of +5.02% and +19.93%, respectively, from the prior year.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Enbridge is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 16.12. Its industry sports an average Forward P/E of 14.71, so we one might conclude that Enbridge is trading at a premium comparatively.
Investors should also note that ENB has a PEG ratio of 2.69 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 3.82 based on yesterday's closing prices.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Enbridge (ENB) Gains But Lags Market: What You Should Know
Enbridge (ENB - Free Report) closed at $37.34 in the latest trading session, marking a +0.81% move from the prior day. This change lagged the S&P 500's 1.14% gain on the day. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.05%.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release, which is expected to be November 4, 2022. On that day, Enbridge is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 12.77%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.30 per share and revenue of $44.69 billion, which would represent changes of +5.02% and +19.93%, respectively, from the prior year.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Enbridge is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 16.12. Its industry sports an average Forward P/E of 14.71, so we one might conclude that Enbridge is trading at a premium comparatively.
Investors should also note that ENB has a PEG ratio of 2.69 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 3.82 based on yesterday's closing prices.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.