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Why the Market Dipped But Enbridge (ENB) Gained Today
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Enbridge (ENB - Free Report) closed the most recent trading day at $35.94, moving +1.38% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.31% for the day. On the other hand, the Dow registered a loss of 0.41%, and the technology-centric Nasdaq decreased by 0.27%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 1.87% over the past month. This has lagged the Oils-Energy sector's gain of 4.74% and the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Enbridge in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.59, showcasing a 6.35% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $9.91 billion, indicating a 10.97% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.11 per share and revenue of $34.52 billion, which would represent changes of +1.93% and +6.54%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.21% increase. At present, Enbridge boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 16.77. This denotes no noticeable deviation relative to the industry's average Forward P/E of 16.77.
We can also see that ENB currently has a PEG ratio of 3.35. 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. ENB's industry had an average PEG ratio of 5.11 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 152, placing it within the bottom 40% of over 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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Why the Market Dipped But Enbridge (ENB) Gained Today
Enbridge (ENB - Free Report) closed the most recent trading day at $35.94, moving +1.38% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.31% for the day. On the other hand, the Dow registered a loss of 0.41%, and the technology-centric Nasdaq decreased by 0.27%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 1.87% over the past month. This has lagged the Oils-Energy sector's gain of 4.74% and the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Enbridge in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.59, showcasing a 6.35% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $9.91 billion, indicating a 10.97% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.11 per share and revenue of $34.52 billion, which would represent changes of +1.93% and +6.54%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.21% increase. At present, Enbridge boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 16.77. This denotes no noticeable deviation relative to the industry's average Forward P/E of 16.77.
We can also see that ENB currently has a PEG ratio of 3.35. 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. ENB's industry had an average PEG ratio of 5.11 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 152, placing it within the bottom 40% of over 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.