In the latest trading session, Enbridge (ENB - Free Report) closed at $34.40, marking a +0.17% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.01%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.19%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 1.18% over the past month, outpacing the Oils-Energy sector's gain of 0.57% and lagging the S&P 500's gain of 3.61% in that time.
Wall Street will be looking for positivity from ENB as it approaches its next earnings report date. In that report, analysts expect ENB to post earnings of $0.35 per share. This would mark a year-over-year decline of 16.67%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $1.97 per share and revenue of $37.74 billion. These results would represent year-over-year changes of -3.9% and -1.94%, respectively.
Investors might also notice 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. ENB currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ENB is currently trading at a Forward P/E ratio of 17.48. Its industry sports an average Forward P/E of 16.96, so we one might conclude that ENB is trading at a premium comparatively.
It is also worth noting that ENB currently has a PEG ratio of 2.6. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 3.74 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 149, which puts it in the bottom 42% 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.