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Enbridge (ENB) Stock Slides as Market Rises: Facts to Know Before You Trade
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Enbridge (ENB - Free Report) closed at $45.82 in the latest trading session, marking a -1.5% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day.
The oil and natural gas transportation and power transmission company's stock has climbed by 0.91% in the past month, falling short of the Oils-Energy sector's gain of 5.47% and the S&P 500's gain of 7.21%.
The investment community will be paying close attention to the earnings performance of Enbridge in its upcoming release. The company is forecasted to report an EPS of $0.42, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.97 billion, indicating an 8.3% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.12 per share and a revenue of $37.6 billion, demonstrating changes of +6% and -3.54%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Enbridge. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.76% downward. Currently, Enbridge is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 21.91. This valuation marks a premium compared to its industry's average Forward P/E of 17.03.
We can also see that ENB currently has a PEG ratio of 4.38. 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. As the market closed yesterday, the Oil and Gas - Production and Pipelines industry was having an average PEG ratio of 2.57.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 40% of all industries, numbering over 250.
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) Stock Slides as Market Rises: Facts to Know Before You Trade
Enbridge (ENB - Free Report) closed at $45.82 in the latest trading session, marking a -1.5% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day.
The oil and natural gas transportation and power transmission company's stock has climbed by 0.91% in the past month, falling short of the Oils-Energy sector's gain of 5.47% and the S&P 500's gain of 7.21%.
The investment community will be paying close attention to the earnings performance of Enbridge in its upcoming release. The company is forecasted to report an EPS of $0.42, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.97 billion, indicating an 8.3% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.12 per share and a revenue of $37.6 billion, demonstrating changes of +6% and -3.54%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Enbridge. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.76% downward. Currently, Enbridge is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 21.91. This valuation marks a premium compared to its industry's average Forward P/E of 17.03.
We can also see that ENB currently has a PEG ratio of 4.38. 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. As the market closed yesterday, the Oil and Gas - Production and Pipelines industry was having an average PEG ratio of 2.57.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 40% of all industries, numbering over 250.
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.