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Enbridge (ENB) Stock Moves -0.46%: What You Should Know
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Enbridge (ENB - Free Report) closed at $39.24 in the latest trading session, marking a -0.46% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.58%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 11.95%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 7.06% in the past month. In that same time, the Oils-Energy sector gained 10.07%, while the S&P 500 gained 4.27%.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. This is expected to be May 5, 2023. On that day, Enbridge is projected to report earnings of $0.61 per share, which would represent a year-over-year decline of 7.58%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.58 billion, down 11.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.20 per share and revenue of $38.2 billion, which would represent changes of +1.85% and -6.91%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Enbridge. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 3.24% lower within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 17.93. Its industry sports an average Forward P/E of 15.71, so we one might conclude that Enbridge is trading at a premium comparatively.
It is also worth noting that ENB currently has a PEG ratio of 2.99. 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 4.19 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Enbridge (ENB) Stock Moves -0.46%: What You Should Know
Enbridge (ENB - Free Report) closed at $39.24 in the latest trading session, marking a -0.46% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.58%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 11.95%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 7.06% in the past month. In that same time, the Oils-Energy sector gained 10.07%, while the S&P 500 gained 4.27%.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. This is expected to be May 5, 2023. On that day, Enbridge is projected to report earnings of $0.61 per share, which would represent a year-over-year decline of 7.58%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.58 billion, down 11.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.20 per share and revenue of $38.2 billion, which would represent changes of +1.85% and -6.91%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Enbridge. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 3.24% lower within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 17.93. Its industry sports an average Forward P/E of 15.71, so we one might conclude that Enbridge is trading at a premium comparatively.
It is also worth noting that ENB currently has a PEG ratio of 2.99. 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 4.19 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.