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Enbridge (ENB) Advances While Market Declines: Some Information for Investors
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Enbridge (ENB - Free Report) closed at $41.09 in the latest trading session, marking a +0.56% move from the prior day. This change outpaced the S&P 500's 0.19% loss on the day. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Shares of the oil and natural gas transportation and power transmission company have appreciated by 3% over the course of the past month, outperforming the Oils-Energy sector's loss of 0.03% and the S&P 500's gain of 1.95%.
The investment community will be paying close attention to the earnings performance of Enbridge in its upcoming release. On that day, Enbridge is projected to report earnings of $0.45 per share, which would represent a year-over-year decline of 2.17%. At the same time, our most recent consensus estimate is projecting a revenue of $4.62 billion, reflecting a 37.02% fall from the equivalent quarter last year.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.08 per share and revenue of $25.91 billion. These results would represent year-over-year changes of +0.48% and -20.03%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enbridge. 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.97% higher. At present, Enbridge boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Enbridge is currently trading at a Forward P/E ratio of 19.64. This represents a premium compared to its industry's average Forward P/E of 18.17.
It is also worth noting that ENB currently has a PEG ratio of 3.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Oil and Gas - Production and Pipelines industry was having an average PEG ratio of 3.09.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 190, this industry ranks in the bottom 25% of all industries, numbering over 250.
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.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.
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Enbridge (ENB) Advances While Market Declines: Some Information for Investors
Enbridge (ENB - Free Report) closed at $41.09 in the latest trading session, marking a +0.56% move from the prior day. This change outpaced the S&P 500's 0.19% loss on the day. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Shares of the oil and natural gas transportation and power transmission company have appreciated by 3% over the course of the past month, outperforming the Oils-Energy sector's loss of 0.03% and the S&P 500's gain of 1.95%.
The investment community will be paying close attention to the earnings performance of Enbridge in its upcoming release. On that day, Enbridge is projected to report earnings of $0.45 per share, which would represent a year-over-year decline of 2.17%. At the same time, our most recent consensus estimate is projecting a revenue of $4.62 billion, reflecting a 37.02% fall from the equivalent quarter last year.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.08 per share and revenue of $25.91 billion. These results would represent year-over-year changes of +0.48% and -20.03%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enbridge. 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.97% higher. At present, Enbridge boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Enbridge is currently trading at a Forward P/E ratio of 19.64. This represents a premium compared to its industry's average Forward P/E of 18.17.
It is also worth noting that ENB currently has a PEG ratio of 3.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Oil and Gas - Production and Pipelines industry was having an average PEG ratio of 3.09.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 190, this industry ranks in the bottom 25% of all industries, numbering over 250.
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.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.