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Enbridge (ENB) Surpasses Market Returns: Some Facts Worth Knowing

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Enbridge (ENB - Free Report) ended the recent trading session at $35.35, demonstrating a +1.41% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.87%. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq appreciated by 1.11%.

The the stock of oil and natural gas transportation and power transmission company has fallen by 1.66% in the past month, lagging the Oils-Energy sector's gain of 3.26% and overreaching the S&P 500's loss of 3.97%.

Analysts and investors alike will be keeping a close eye on the performance of Enbridge in its upcoming earnings disclosure. The company's earnings report is set to go public on May 10, 2024. The company is forecasted to report an EPS of $0.60, showcasing a 4.76% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $9.94 billion, reflecting a 11.32% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $2.14 per share and revenue of $34.64 billion, which would represent changes of +3.38% and +6.89%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Enbridge. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.03% upward. Enbridge is holding a Zacks Rank of #3 (Hold) right now.

In the context of valuation, Enbridge is at present trading with a Forward P/E ratio of 16.32. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 16.32.

We can additionally observe that ENB currently boasts a PEG ratio of 3.26. 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 5.21 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 31, which puts it in the top 13% 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.

Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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