Enbridge (ENB - Free Report) closed the most recent trading day at $34.59, moving +1.02% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.97%. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, added 1.39%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had lost 8.33% in the past month. In that same time, the Oils-Energy sector lost 2.99%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from ENB as it approaches its next earnings report date. On that day, ENB is projected to report earnings of $0.39 per share, which would represent a year-over-year decline of 37.1%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $1.89 per share and revenue of $37.15 billion. These results would represent year-over-year changes of -7.8% and -3.45%, respectively.
It is also important to note the recent changes to analyst estimates for ENB. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.54% 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 18.14. Its industry sports an average Forward P/E of 15.79, so we one might conclude that ENB is trading at a premium comparatively.
We can also see that ENB currently has a PEG ratio of 2.11. 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 industry currently had an average PEG ratio of 4.28 as of yesterday's close.
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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.