In the latest close session, Enbridge (ENB) was up +1.37% at $47.47. This change outpaced the S&P 500's 0.46% gain on the day. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.57%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 1.04% over the past month, lagging the Oils-Energy sector's gain of 0.15% and the S&P 500's gain of 4.22%.
The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. The company is expected to report EPS of $0.57, up 7.55% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $11.71 billion, reflecting a 1.02% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.09 per share and revenue of $43.77 billion. These totals would mark changes of +4.5% and +12.31%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Enbridge. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.45% decrease. Enbridge presently features a Zacks Rank of #4 (Sell).
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 22.43. This denotes a premium relative to the industry average Forward P/E of 16.09.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 82, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Enbridge Inc (ENB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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