Enbridge (ENB) Stock Declines While Market Improves: Some Information for Investors

Enbridge (ENB) ended the recent trading session at $43.87, demonstrating a -0.81% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq appreciated by 0.52%.Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 5.36% in the past month. In that same time, the Oils-Energy sector lost 1.36%, while the S&P 500 lost 7.33%.The investment community will be closely monitoring the performance of Enbridge in its forthcoming earnings report. The company is expected to report EPS of $0.64, down 5.88% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $9.08 billion, indicating a 10.9% increase compared to the same quarter of the previous year.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.12 per share and revenue of $33.14 billion, indicating changes of +6% and -14.96%, respectively, compared to the previous year.It's also important for investors to be aware of any recent modifications to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.88% decrease. At present, Enbridge boasts a Zacks Rank of #3 (Hold).In the context of valuation, Enbridge is at present trading with a Forward P/E ratio of 20.85. This represents a premium compared to its industry's average Forward P/E of 17.88.Also, we should mention that ENB has a PEG ratio of 4.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Production and Pipelines industry was having an average PEG ratio of 2.89.The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks