Here's Why Enbridge (ENB) Fell More Than Broader Market

Company Overview - Enbridge's stock closed at $44.36, showing a -0.36% change from the previous day, underperforming the S&P 500, which fell by 0.33% [1] - The stock has increased by 6.63% over the past month, outperforming the Oils-Energy sector's gain of 3.64% and the S&P 500's decline of 4.03% [1] Earnings Projections - The upcoming earnings release is anticipated, with projected earnings per share (EPS) of$ 0.64, indicating a 5.88% decrease year-over-year [2] - Revenue is expected to reach $9.08 billion, reflecting a 10.9% increase compared to the same quarter last year [2] Full Year Estimates - For the full year, earnings are projected at$ 2.13 per share, representing a +6.5% change from the prior year, while revenue is expected to be $33.14 billion, showing a -14.96% change [3] - Recent adjustments to analyst estimates may indicate changing business trends, with positive revisions suggesting optimism about the company's profitability [3] Valuation Metrics - Enbridge has a Forward P/E ratio of 20.86, which is higher than the industry average of 17.24, indicating a premium valuation [6] - The company holds a PEG ratio of 4.17, compared to the industry average PEG ratio of 2.92, suggesting a higher valuation relative to expected earnings growth [7] Industry Context - The Oil and Gas - Production and Pipelines industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 45, placing it in the top 18% of over 250 industries [8] - The top 50% rated industries tend to outperform the bottom half by a factor of 2 to 1, indicating a favorable environment for the industry [8]