Yahoo Finance Enbridge (ENB) Stock Dips While Market Gains: Key Facts
Enbridge (ENB) ended the recent trading session at $35.38, demonstrating a -0.65% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.1%. Elsewhere, the Dow lost 0.08%, while the tech-heavy Nasdaq added 0.28%.
The the stock of oil and natural gas transportation and power transmission company has fallen by 0.42% in the past month, lagging the Oils-Energy sector's gain of 0.75% and the S&P 500's gain of 4.08%.
The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.47, reflecting a 7.84% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.69 billion, reflecting a 26.68% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.13 per share and a revenue of $24.55 billion, representing changes of +2.9% and -24.23%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enbridge. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 witnessed a 1.23% increase. Enbridge is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Enbridge is at present trading with a Forward P/E ratio of 16.69. This denotes a discount relative to the industry's average Forward P/E of 16.83.
One should further note that ENB currently holds a PEG ratio of 3.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 3.24 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 76, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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
