Yahoo Finance Enbridge (ENB) Stock Moves -0.42%: What You Should Know
Enbridge (ENB) closed the most recent trading day at $42.26, moving -0.42% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.88%. At the same time, the Dow lost 0.82%, and the tech-heavy Nasdaq gained 0.08%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had lost 7.64% over the past month. This has was narrower than the Oils-Energy sector's loss of 14.09% and the S&P 500's loss of 8.06% in that time.
Enbridge will be looking to display strength as it nears its next earnings release. On that day, Enbridge is projected to report earnings of $0.57 per share, which would represent year-over-year growth of 3.64%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.38 per share and revenue of $69.1 billion. These totals would mark changes of +8.68% and +85.42%, respectively, from last year.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% lower. Enbridge is currently a Zacks Rank #3 (Hold).
Digging into valuation, Enbridge currently has a Forward P/E ratio of 17.86. This represents a premium compared to its industry's average Forward P/E of 14.14.
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 industry currently had an average PEG ratio of 4 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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