Yahoo Finance Enbridge (ENB) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Enbridge (ENB) closed at $39.84, marking a -0.4% move from the previous day. This change lagged the S&P 500's 0.11% loss on the day.
Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 4.03% in the past month. In that same time, the Oils-Energy sector gained 4.47%, while the S&P 500 gained 2.23%.
Investors will be hoping for strength from ENB as it approaches its next earnings release. On that day, ENB is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 14.63%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.17 per share and revenue of $38.83 billion, which would represent changes of +19.89% and +32.75%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ENB. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.89% higher within the past month. 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 18.48. Its industry sports an average Forward P/E of 15.83, so we one might conclude that ENB is trading at a premium comparatively.
Meanwhile, ENB's PEG ratio is currently 3.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Production and Pipelines stocks are, on average, holding a PEG ratio of 3.17 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 130, which puts it in the bottom 49% 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.
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Enbridge Inc (ENB) : Free Stock Analysis Report
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