Yahoo Finance Enbridge (ENB) Stock Moves -1.17%: What You Should Know
In the latest trading session, Enbridge (ENB) closed at $35.54, marking a -1.17% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.57%. Elsewhere, the Dow saw a downswing of 1.49%, while the tech-heavy Nasdaq depreciated by 2.04%.
The oil and natural gas transportation and power transmission company's stock has climbed by 0.36% in the past month, falling short of the Oils-Energy sector's gain of 2.99% and outpacing the S&P 500's loss of 2.5%.
Investors will be eagerly watching for the performance of Enbridge in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 10, 2024. The company is forecasted to report an EPS of $0.59, showcasing a 6.35% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $9 billion, up 0.77% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.12 per share and revenue of $33.28 billion. These totals would mark changes of +2.42% and +2.71%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Enbridge. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.09% higher. As of now, Enbridge holds a Zacks Rank of #3 (Hold).
With respect to valuation, Enbridge is currently being traded at a Forward P/E ratio of 16.99. This expresses no noticeable deviation compared to the average Forward P/E of 16.99 of its industry.
It is also worth noting that ENB currently has a PEG ratio of 3.4. 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. As of the close of trade yesterday, the Oil and Gas - Production and Pipelines industry held an average PEG ratio of 5.21.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 37% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Enbridge Inc (ENB) : Free Stock Analysis Report
