Enbridge (ENB) closed at $42.66 in the latest trading session, marking a -0.33% move from the prior day. This move lagged the S&P 500's daily gain of 0.48%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 6.92% over the past month, lagging the Oils-Energy sector's gain of 13.33% and outpacing the S&P 500's gain of 3.46% in that time.
Wall Street will be looking for positivity from ENB as it approaches its next earnings report date. This is expected to be November 5, 2021. On that day, ENB is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 30.56%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $37.71 billion. These totals would mark changes of +23.76% and +28.91%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ENB. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.67% higher within the past month. ENB is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, ENB currently has a Forward P/E ratio of 19.09. Its industry sports an average Forward P/E of 16.83, so we one might conclude that ENB is trading at a premium comparatively.
Meanwhile, ENB's PEG ratio is currently 3.18. 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. ENB's industry had an average PEG ratio of 3.61 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 104, which puts it in the top 41% of all 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.
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