Yahoo Finance Enbridge (ENB) Stock Dips While Market Gains: Key Facts
In the latest market close, Enbridge (ENB) reached $34.85, with a -0.77% movement compared to the previous day. This change lagged the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.49%, and the Nasdaq, a tech-heavy index, added 0.95%.
The oil and natural gas transportation and power transmission company's shares have seen a decrease of 4.44% over the last month, surpassing the Oils-Energy sector's loss of 7.24% and falling behind the S&P 500's gain of 3.71%.
Analysts and investors alike will be keeping a close eye on the performance of Enbridge in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.47, showcasing a 7.84% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.69 billion, indicating a 26.68% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.13 per share and revenue of $24.55 billion. These totals would mark changes of +2.9% and -24.23%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Enbridge. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Enbridge presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 16.46. This valuation marks a discount compared to its industry's average Forward P/E of 16.57.
It is also worth noting that ENB currently has a PEG ratio of 3.29. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 3.19 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 56, which puts it in the top 23% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Enbridge Inc (ENB) : Free Stock Analysis Report
