Enbridge (ENB - Free Report) closed the most recent trading day at $36.61, moving +0.58% from the previous trading session. This move outpaced the S&P 500's daily of 0%. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq gained 0.25%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 3.82% over the past month, outpacing the Oils-Energy sector's gain of 1.74% and the S&P 500's gain of 2.36% in that time.
ENB will be looking to display strength as it nears its next earnings release. On that day, ENB is projected to report earnings of $0.48 per share, which would represent a year-over-year decline of 41.46%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $1.72 per share and revenue of $35.96 billion. These results would represent year-over-year changes of -16.1% and -6.57%, respectively.
Any recent changes to analyst estimates for ENB should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.67% lower. ENB is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, ENB is currently trading at a Forward P/E ratio of 21.14. For comparison, its industry has an average Forward P/E of 16.88, which means ENB is trading at a premium to the group.
We can also see that ENB currently has a PEG ratio of 2.35. 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. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 2.5 based on yesterday's closing prices.
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 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.