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Enbridge (ENB) Gains But Lags Market: What You Should Know
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In the latest trading session, Enbridge (ENB - Free Report) closed at $33.71, marking a +0.51% move from the previous day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 1.14%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had lost 8.66% in the past month. In that same time, the Oils-Energy sector gained 4.25%, while the S&P 500 lost 0.73%.
Enbridge will be looking to display strength as it nears its next earnings release. In that report, analysts expect Enbridge to post earnings of $0.45 per share. This would mark a year-over-year decline of 11.76%. Our most recent consensus estimate is calling for quarterly revenue of $8.31 billion, down 6.32% from the year-ago period.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.32 per share and revenue of $34.29 billion. These results would represent year-over-year changes of +7.41% and -16.43%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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. The Zacks Consensus EPS estimate has moved 1.93% lower within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Enbridge is currently trading at a Forward P/E ratio of 14.48. This represents a discount compared to its industry's average Forward P/E of 15.15.
It is also worth noting that ENB currently has a PEG ratio of 2.41. 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 was holding an average PEG ratio of 4.75 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.
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Enbridge (ENB) Gains But Lags Market: What You Should Know
In the latest trading session, Enbridge (ENB - Free Report) closed at $33.71, marking a +0.51% move from the previous day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 1.14%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had lost 8.66% in the past month. In that same time, the Oils-Energy sector gained 4.25%, while the S&P 500 lost 0.73%.
Enbridge will be looking to display strength as it nears its next earnings release. In that report, analysts expect Enbridge to post earnings of $0.45 per share. This would mark a year-over-year decline of 11.76%. Our most recent consensus estimate is calling for quarterly revenue of $8.31 billion, down 6.32% from the year-ago period.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.32 per share and revenue of $34.29 billion. These results would represent year-over-year changes of +7.41% and -16.43%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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. The Zacks Consensus EPS estimate has moved 1.93% lower within the past month. Enbridge currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Enbridge is currently trading at a Forward P/E ratio of 14.48. This represents a discount compared to its industry's average Forward P/E of 15.15.
It is also worth noting that ENB currently has a PEG ratio of 2.41. 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 was holding an average PEG ratio of 4.75 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.