Enbridge Stock – Enbridge (ENB) Gains As Market Dips: What You Should Know – April 14, 2021
Enbridge (ENB – Free Report) closed at $37.09 in the latest trading session, marking a +0.98% move from the prior day. This change outpaced the S&P 500’s 0.41% loss on the day.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 0.77% over the past month, outpacing the Oils-Energy sector’s loss of 7.4% and lagging the S&P 500’s gain of 5.07% in that time.
ENB will be looking to display strength as it nears its next earnings release. On that day, ENB is projected to report earnings of $0.56 per share, which would represent a year-over-year decline of 9.68%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.07 per share and revenue of $34.25 billion, which would represent changes of +14.36% and +17.08%, respectively, from the prior year.
Any recent changes to analyst estimates for ENB should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.14% higher within the past month. ENB is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, ENB currently has a Forward P/E ratio of 17.79. This valuation marks a premium compared to its industry’s average Forward P/E of 14.04.
We can also see that ENB currently has a PEG ratio of 2.96. 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 3.04 as of yesterday’s close.
The Oil and Gas – Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.