Enbridge (ENB) closed at $43.50 in the latest trading session, marking a +1.56% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.64%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 0.31%.

Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had lost 0.56% over the past month. This has was narrower than the Oils-Energy sector's loss of 3.15% and the S&P 500's loss of 7.69% in that time.

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. At the same time, our most recent consensus estimate is projecting a revenue of $9.08 billion, reflecting a 10.9% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $2.12 per share and a revenue of $33.14 billion, demonstrating changes of +6% and -14.96%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Enbridge. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.11% decrease. Enbridge currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, Enbridge is holding a Forward P/E ratio of 20.19. This valuation marks a premium compared to its industry's average Forward P/E of 17.59.

It is also worth noting that ENB currently has a PEG ratio of 4.04. 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 of the close of trade yesterday, the Oil and Gas - Production and Pipelines industry held an average PEG ratio of 2.8.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 45, putting it in the top 18% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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