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Enbridge (ENB) closed the latest trading day at $45.31, indicating a +1.8% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.88%. Elsewhere, the Dow gained 1.24%, while the tech-heavy Nasdaq added 0.65%.
The the stock of oil and natural gas transportation and power transmission company has risen by 6.48% in the past month, leading the Oils-Energy sector's loss of 0.38% and the S&P 500's gain of 1.17%.
The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. The company is scheduled to release its earnings on February 14, 2025. On that day, Enbridge is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 10.64%. Alongside, our most recent consensus estimate is anticipating revenue of $4.78 billion, indicating a 42.87% downward movement from the same quarter last year.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.75% fall in the Zacks Consensus EPS estimate. At present, Enbridge boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Enbridge is presently trading at a Forward P/E ratio of 20.64. This signifies a premium in comparison to the average Forward P/E of 15.46 for its industry.
Investors should also note that ENB has a PEG ratio of 4.13 right now. 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. ENB's industry had an average PEG ratio of 3.25 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.