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Enbridge (ENB) Stock Sinks As Market Gains: What You Should Know
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Enbridge (ENB - Free Report) closed at $34.46 in the latest trading session, marking a -0.17% move from the prior day. This change lagged the S&P 500's 0.4% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 0.35% over the past month. This has lagged the Oils-Energy sector's gain of 3.39% and outpaced the S&P 500's loss of 1.38% in that time.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release. On that day, Enbridge is projected to report earnings of $0.45 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.27 per share and revenue of $34.29 billion, which would represent changes of +5.09% and -16.43%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.25% lower. Enbridge is currently a Zacks Rank #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 15.21. This represents a premium compared to its industry's average Forward P/E of 15.14.
Meanwhile, ENB's PEG ratio is currently 2.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 4.79 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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) Stock Sinks As Market Gains: What You Should Know
Enbridge (ENB - Free Report) closed at $34.46 in the latest trading session, marking a -0.17% move from the prior day. This change lagged the S&P 500's 0.4% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 0.35% over the past month. This has lagged the Oils-Energy sector's gain of 3.39% and outpaced the S&P 500's loss of 1.38% in that time.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release. On that day, Enbridge is projected to report earnings of $0.45 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.27 per share and revenue of $34.29 billion, which would represent changes of +5.09% and -16.43%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.25% lower. Enbridge is currently a Zacks Rank #3 (Hold).
Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 15.21. This represents a premium compared to its industry's average Forward P/E of 15.14.
Meanwhile, ENB's PEG ratio is currently 2.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 4.79 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.