The most recent trading session ended with Enbridge (ENB) standing at $43.40, reflecting a -0.18% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.86%, and the technology-centric Nasdaq decreased by 0.38%.

The oil and natural gas transportation and power transmission company's shares have seen an increase of 3.75% over the last month, surpassing the Oils-Energy sector's loss of 9.81% and the S&P 500's loss of 2.2%.

Market participants will be closely following the financial results of Enbridge in its upcoming release. The company is forecasted to report an EPS of $0.52, showcasing a 10.64% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.78 billion, indicating a 42.87% decrease compared to the same quarter of the previous year.

Investors should also note any 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 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 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.92% downward. As of now, Enbridge holds a Zacks Rank of #3 (Hold).

In terms of valuation, Enbridge is currently trading at a Forward P/E ratio of 20.17. This signifies a premium in comparison to the average Forward P/E of 14.97 for its industry.

Also, we should mention that ENB has a PEG ratio of 4.03. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. ENB's industry had an average PEG ratio of 3.37 as of yesterday's close.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 168, finds itself in the bottom 34% echelons of all 250+ industries.

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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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