Enbridge (ENB) Outperforms Broader Market: What You Need to Know

Enbridge (ENB) closed at $43.93 in the latest trading session, marking a +0.48% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.39%. Elsewhere, the Dow saw an upswing of 0.71%, while the tech-heavy Nasdaq appreciated by 0.2%.The oil and natural gas transportation and power transmission company's shares have seen an increase of 0.18% over the last month, not keeping up with the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 1.7%.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 February 14, 2025. The company's upcoming EPS is projected at $0.52, signifying a 10.64% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.78 billion, reflecting a 42.87% fall from the equivalent quarter last year.Investors should also pay attention to any latest changes in analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.04% decrease. Enbridge currently has a Zacks Rank of #3 (Hold).Valuation is also important, so investors should note that Enbridge has a Forward P/E ratio of 20.33 right now. This denotes a premium relative to the industry's average Forward P/E of 15.4.We can also see that ENB currently has a PEG ratio of 4.07. 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 2.87 as of yesterday's close.The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 170, this industry ranks in the bottom 33% of all industries, numbering over 250.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enbridge Inc (ENB): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks