Enbridge (ENB) Declines More Than Market: Some Information for Investors

In the latest trading session, Enbridge (ENB) closed at $45.02, marking a -2.07% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.03%. Elsewhere, the Dow saw a downswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.13%. The oil and natural gas transportation and power transmission company's shares have seen an increase of 0.79% over the last month, not keeping up with the Oils-Energy sector's gain of 5.57% and outstripping the S&P 500's gain of 0.6%.The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. The company is forecasted to report an EPS of $0.42, showcasing no movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $8.97 billion, indicating a 8.3% growth compared to the corresponding quarter of the prior year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.12 per share and a revenue of $37.6 billion, indicating changes of +6% and -3.54%, respectively, from the former 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, we can interpret positive estimate revisions as a good sign for the business outlook. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Enbridge boasts a Zacks Rank of #3 (Hold). In terms of valuation, Enbridge is presently being traded at a Forward P/E ratio of 21.65. For comparison, its industry has an average Forward P/E of 17.24, which means Enbridge is trading at a premium to the group. We can also see that ENB currently has a PEG ratio of 4.33. 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 2.62 as of yesterday's close. 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 148, placing it within the bottom 40% of over 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. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks