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Enbridge (ENB) Increases Despite Market Slip: Here's What You Need to Know
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Enbridge (ENB - Free Report) closed the most recent trading day at $35.98, moving +0.08% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.06%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.76%.
The the stock of oil and natural gas transportation and power transmission company has fallen by 0.19% in the past month, leading the Oils-Energy sector's loss of 1.02% and undershooting the S&P 500's gain of 3.36%.
The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. The company is scheduled to release its earnings on February 9, 2024. It is anticipated that the company will report an EPS of $0.50, marking an 8.7% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $9.62 billion, showing a 2.68% drop compared to the year-ago quarter.
Investors should also pay attention to any latest changes in analyst estimates for Enbridge. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% increase. Enbridge is currently sporting a Zacks Rank of #2 (Buy).
In the context of valuation, Enbridge is at present trading with a Forward P/E ratio of 17.02. This indicates a premium in contrast to its industry's Forward P/E of 15.27.
Investors should also note that ENB has a PEG ratio of 2.84 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Oil and Gas - Production and Pipelines industry had an average PEG ratio of 4.26.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Increases Despite Market Slip: Here's What You Need to Know
Enbridge (ENB - Free Report) closed the most recent trading day at $35.98, moving +0.08% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.06%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.76%.
The the stock of oil and natural gas transportation and power transmission company has fallen by 0.19% in the past month, leading the Oils-Energy sector's loss of 1.02% and undershooting the S&P 500's gain of 3.36%.
The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. The company is scheduled to release its earnings on February 9, 2024. It is anticipated that the company will report an EPS of $0.50, marking an 8.7% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $9.62 billion, showing a 2.68% drop compared to the year-ago quarter.
Investors should also pay attention to any latest changes in analyst estimates for Enbridge. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% increase. Enbridge is currently sporting a Zacks Rank of #2 (Buy).
In the context of valuation, Enbridge is at present trading with a Forward P/E ratio of 17.02. This indicates a premium in contrast to its industry's Forward P/E of 15.27.
Investors should also note that ENB has a PEG ratio of 2.84 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Oil and Gas - Production and Pipelines industry had an average PEG ratio of 4.26.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.