Enbridge (ENB - Free Report) closed the most recent trading day at $35.34, moving +0.4% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.49%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 0.8%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 5.42% over the past month, lagging the Oils-Energy sector's gain of 6.28% and outpacing the S&P 500's gain of 3% in that time.
Investors will be hoping for strength from ENB as it approaches its next earnings release. In that report, analysts expect ENB to post earnings of $0.36 per share. This would mark a year-over-year decline of 14.29%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2 per share and revenue of $37.74 billion. These totals would mark changes of -2.44% and -1.94%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ENB. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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. The Zacks Consensus EPS estimate has moved 1.26% higher within the past month. ENB is currently a Zacks Rank #3 (Hold).
In terms of valuation, ENB is currently trading at a Forward P/E ratio of 17.64. This represents a premium compared to its industry's average Forward P/E of 16.84.
Meanwhile, ENB's PEG ratio is currently 2.62. 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 3.86 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 148, which puts it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.