Yahoo Finance Enbridge (ENB) Rises Higher Than Market: Key Facts
Enbridge (ENB) ended the recent trading session at $35.96, demonstrating a +0.39% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.32%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.35%.
The oil and natural gas transportation and power transmission company's shares have seen a decrease of 1% over the last month, not keeping up with the Oils-Energy sector's gain of 4.43% and outstripping the S&P 500's loss of 2%.
Analysts and investors alike will be keeping a close eye on the performance of Enbridge in its upcoming earnings disclosure. The company's earnings report is set to go public on May 10, 2024. The company's upcoming EPS is projected at $0.59, signifying a 6.35% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $9 billion, indicating a 0.77% upward movement from the same quarter last year.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.12 per share and revenue of $33.28 billion. These results would represent year-over-year changes of +2.42% and +2.71%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Enbridge. Recent revisions tend to reflect the latest 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.09% higher. As of now, Enbridge holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 16.93. This denotes no noticeable deviation relative to the industry's average Forward P/E of 16.93.
It's also important to note that ENB currently trades at a PEG ratio of 3.39. 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. By the end of yesterday's trading, the Oil and Gas - Production and Pipelines industry had an average PEG ratio of 5.23.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 188, finds itself in the bottom 26% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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Enbridge Inc (ENB) : Free Stock Analysis Report
