Enbridge (ENB) closed the most recent trading day at $42.12, moving +0.72% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.07%. Meanwhile, the Dow experienced a drop of 0.97%, and the technology-dominated Nasdaq saw a decrease of 1.19%.

The the stock of oil and natural gas transportation and power transmission company has fallen by 3.6% in the past month, leading the Oils-Energy sector's loss of 8.22% and undershooting the S&P 500's loss of 0.36%.

Investors will be eagerly watching for the performance of Enbridge in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.52, marking a 10.64% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $4.78 billion, indicating a 42.87% decline compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.03 per share and a revenue of $31.84 billion, representing changes of -1.93% and -1.73%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Enbridge. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.49% downward. Enbridge is currently a Zacks Rank #3 (Hold).

Digging into valuation, Enbridge currently has a Forward P/E ratio of 20.65. This denotes a premium relative to the industry's average Forward P/E of 15.89.

It is also worth noting that ENB currently has a PEG ratio of 4.13. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Oil and Gas - Production and Pipelines industry was having an average PEG ratio of 3.39.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 220, positioning it in the bottom 13% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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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