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In the latest trading session, Enbridge (ENB) closed at $42.44, marking a -0.24% move from the previous day. This move lagged the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 0.02%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 7.82% over the past month, outpacing the Oils-Energy sector's loss of 11.91% and the S&P 500's loss of 7.99% in that time.
Investors will be hoping for strength from Enbridge as it approaches its next earnings release. The company is expected to report EPS of $0.57, up 3.64% from the prior-year quarter.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.38 per share and revenue of $69.1 billion. These results would represent year-over-year changes of +8.68% and +85.42%, respectively.
It is also important to note the recent changes to analyst estimates for Enbridge. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% lower. Enbridge is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 17.9. For comparison, its industry has an average Forward P/E of 14.33, which means Enbridge is trading at a premium to the group.
It is also worth noting that ENB currently has a PEG ratio of 2.98. 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. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 4.03 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 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.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.
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