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Enbridge (ENB) closed the latest trading day at $44.70, indicating a -0.8% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 1.46% for the day. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, lost 3.07%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had gained 7.75% over the past month, outpacing the Oils-Energy sector's loss of 3.28% and the S&P 500's gain of 1.08% in that time.
Market participants will be closely following the financial results of Enbridge in its upcoming release. The company plans to announce its earnings on February 14, 2025. The company's earnings per share (EPS) are projected to be $0.52, reflecting a 10.64% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $4.78 billion, showing a 42.87% drop compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Enbridge. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.75% lower. Right now, Enbridge possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Enbridge is currently being traded at a Forward P/E ratio of 20.9. This represents a premium compared to its industry's average Forward P/E of 15.33.
It is also worth noting that ENB currently has a PEG ratio of 4.18. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Production and Pipelines industry had an average PEG ratio of 3.27 as trading concluded yesterday.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 38% of all industries, numbering over 250.