Enbridge (ENB) ended the recent trading session at $44.36, demonstrating a -0.36% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.33%. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq lost 0.53%.

The the stock of oil and natural gas transportation and power transmission company has risen by 6.63% in the past month, leading the Oils-Energy sector's gain of 3.64% and the S&P 500's loss of 4.03%.

The upcoming earnings release of Enbridge will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.64, reflecting a 5.88% decrease from the same quarter last year. 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 are projecting earnings of $2.13 per share and revenue of $33.14 billion, which would represent changes of +6.5% and -14.96%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Enbridge. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.29% increase. Enbridge is currently a Zacks Rank #3 (Hold).

From a valuation perspective, Enbridge is currently exchanging hands at a Forward P/E ratio of 20.86. For comparison, its industry has an average Forward P/E of 17.24, which means Enbridge is trading at a premium to the group.

One should further note that ENB currently holds a PEG ratio of 4.17. 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. By the end of yesterday's trading, the Oil and Gas - Production and Pipelines industry had an average PEG ratio of 2.92.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% 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.

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

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

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