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Enbridge (ENB) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Enbridge (ENB - Free Report) closed the most recent trading day at $53.24, moving -1.5% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.36%. Elsewhere, the Dow saw a downswing of 1.64%, while the tech-heavy Nasdaq depreciated by 1.46%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 5.07% in the past month. In that same time, the Oils-Energy sector gained 10.02%, while the S&P 500 lost 1.76%.
Market participants will be closely following the financial results of Enbridge in its upcoming release. It is anticipated that the company will report an EPS of $0.7, marking a 2.78% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $11.72 billion, indicating a 9.09% decrease compared to the same quarter of the previous year.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.24 per share and revenue of $45.13 billion. These results would represent year-over-year changes of +3.7% and -3.15%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Enbridge. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.32% higher. Enbridge currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 24.08. This valuation marks a premium compared to its industry average Forward P/E of 19.41.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 27% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Enbridge (ENB) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Enbridge (ENB - Free Report) closed the most recent trading day at $53.24, moving -1.5% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.36%. Elsewhere, the Dow saw a downswing of 1.64%, while the tech-heavy Nasdaq depreciated by 1.46%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 5.07% in the past month. In that same time, the Oils-Energy sector gained 10.02%, while the S&P 500 lost 1.76%.
Market participants will be closely following the financial results of Enbridge in its upcoming release. It is anticipated that the company will report an EPS of $0.7, marking a 2.78% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $11.72 billion, indicating a 9.09% decrease compared to the same quarter of the previous year.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.24 per share and revenue of $45.13 billion. These results would represent year-over-year changes of +3.7% and -3.15%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Enbridge. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.32% higher. Enbridge currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 24.08. This valuation marks a premium compared to its industry average Forward P/E of 19.41.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 27% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.