In the latest trading session, Enbridge (ENB) closed at $41.54, marking a -1.05% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.18%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq added 0.27%.

Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 3.6% in the past month. In that same time, the Oils-Energy sector lost 8.08%, while the S&P 500 gained 4.46%.

The investment community will be paying close attention to the earnings performance of Enbridge in its upcoming release. The company is slated to reveal its earnings on November 1, 2024. It is anticipated that the company will report an EPS of $0.43, marking a 6.52% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.62 billion, showing a 37.02% drop compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $2.08 per share and a revenue of $25.91 billion, demonstrating changes of +0.48% and -20.03%, respectively, from the preceding year.

It's also important for investors to be aware of any recent modifications 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.24% downward. Enbridge is currently a Zacks Rank #3 (Hold).

Investors should also note Enbridge's current valuation metrics, including its Forward P/E ratio of 20.23. For comparison, its industry has an average Forward P/E of 17.95, which means Enbridge is trading at a premium to the group.

It's also important to note that ENB currently trades at a PEG ratio of 4.05. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Production and Pipelines industry had an average PEG ratio of 3.13 as trading concluded yesterday.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 77, placing it within the top 31% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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