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Enbridge (ENB) Dips More Than Broader Markets: What You Should Know
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Enbridge (ENB - Free Report) closed the most recent trading day at $39.56, moving -0.5% from the previous trading session. This change lagged the S&P 500's 0.04% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 2.14%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 4.22% over the past month. This has lagged the Oils-Energy sector's gain of 4.67% and the S&P 500's gain of 5.1% in that time.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release, which is expected to be May 5, 2023. In that report, analysts expect Enbridge to post earnings of $0.62 per share. This would mark a year-over-year decline of 6.06%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.58 billion, down 11.22% from the year-ago period.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.22 per share and revenue of $38.2 billion. These results would represent year-over-year changes of +2.78% and -6.91%, respectively.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. Recent revisions tend to reflect the latest near-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 has moved 1.7% lower within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enbridge has a Forward P/E ratio of 17.94 right now. This represents a premium compared to its industry's average Forward P/E of 15.77.
Investors should also note that ENB has a PEG ratio of 2.99 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. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 4.15 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 119, putting it in the top 48% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Enbridge (ENB) Dips More Than Broader Markets: What You Should Know
Enbridge (ENB - Free Report) closed the most recent trading day at $39.56, moving -0.5% from the previous trading session. This change lagged the S&P 500's 0.04% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 2.14%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 4.22% over the past month. This has lagged the Oils-Energy sector's gain of 4.67% and the S&P 500's gain of 5.1% in that time.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release, which is expected to be May 5, 2023. In that report, analysts expect Enbridge to post earnings of $0.62 per share. This would mark a year-over-year decline of 6.06%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.58 billion, down 11.22% from the year-ago period.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.22 per share and revenue of $38.2 billion. These results would represent year-over-year changes of +2.78% and -6.91%, respectively.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. Recent revisions tend to reflect the latest near-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 has moved 1.7% lower within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enbridge has a Forward P/E ratio of 17.94 right now. This represents a premium compared to its industry's average Forward P/E of 15.77.
Investors should also note that ENB has a PEG ratio of 2.99 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. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 4.15 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 119, putting it in the top 48% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.