In the latest trading session, Enbridge (ENB) closed at $32.28, marking a +1.64% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had lost 1.27% in the past month. In that same time, the Oils-Energy sector lost 5.66%, while the S&P 500 lost 2.56%.
Investors will be hoping for strength from ENB as it approaches its next earnings release, which is expected to be February 15, 2019. On that day, ENB is projected to report earnings of $0.48 per share, which would represent no growth from the prior-year quarter.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.08 per share and revenue of $36.87 billion. These results would represent year-over-year changes of +35.06% and +2.26%, respectively.
Investors should also note any recent changes to analyst estimates for ENB. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate has moved 0.48% lower within the past month. ENB is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, ENB is currently trading at a Forward P/E ratio of 15.27. This represents a discount compared to its industry's average Forward P/E of 16.37.
Also, we should mention that ENB has a PEG ratio of 1.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 2.76 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 70, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.
Enbridge Inc (ENB): Free Stock Analysis Report
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