Enbridge Inc. (NYSE:ENB) shares, rose in value on Thursday, June 23, with the stock price down by -0.33% to the previous day’s close as strong demand from buyers drove the stock to $41.11.
Actively observing the price movement in the recent trading, the stock is buoying the session at $41.25, falling within a range of $40.24 and $41.56. The value of beta (5-year monthly) is 0.94 whereas the PE ratio is 18.53 over 12-month period. Referring to stock’s 52-week performance, its high was $47.67, and the low was $36.21. On the whole, ENB has fluctuated by -7.39% over the past month.
With the market capitalization of Enbridge Inc. currently standing at about $84.85 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 10, 2022 – Feb 14, 2022. The company’s Forward Dividend Ratio is 2.64, with its dividend yield at 6.39%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.53, which is expected to increase to $0.54 for fiscal year $2.29 and then to about $2.4 by fiscal year 2023. Data indicates that the EPS growth is expected to be 5.50% in 2023, while the next year’s EPS growth is forecast to be 4.80%.
Analysts have estimated the company’s revenue for the quarter at $9.48 billion, with a low estimate of $9.48 billion and a high estimate of $9.48 billion. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $39.3 billion, representing an increase of 5.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 3 upward and no downward review(s) in last seven days. We see that ENB’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 1.85, with the price of ENB currently trading nearly -8.16% and -8.10% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.17, while the 7-day volatility ratio is showing 3.04% which for the 30-day chart, stands at 2.03%. Furthermore, Enbridge Inc. (ENB)’s beta value is 0.80, and its average true range (ATR) is 1.11.
A comparison of Enbridge Inc. (ENB) with its peers suggests the former has fared considerably weaker in the market. ENB showed an intraday change of -0.33% in today’s session so far, and over the past year, it grew by 3.12%%. In comparison, Hess Corporation (HES) has moved lower at -1.10% today and is up 16.61% over the past 12 months. On the other hand, the price of Suncor Energy Inc. (SU) has fallen -1.79% today. The stock, however, is off 42.48% from where it was a year ago. Additionally, there is a loss of -0.93% for Enterprise Products Partners L.P. (EPD) in recent trading while the stock has seen an overall depriciation of -0.17%% over the past year. The PE ratio stands at 18.53 for Enbridge Inc., compared to 44.31 for Hess Corporation, and 10.61 for Suncor Energy Inc. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.69%. Meanwhile, the Dow Jones Industrial Improved by 0.48%.
Data on historical trading for Enbridge Inc. (NYSE:ENB) indicates that the trading volumes over the past 10 days have averaged 4.59 million and over the past 3 months, they’ve averaged 3.95 million. According to company’s latest data on outstanding shares, there are 2.03 billion shares outstanding.
Nearly 9.20% of Enbridge Inc.’s shares belong to company insiders and institutional investors own 70.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 18.65 million shares as on Apr 28, 2022, resulting in a short ratio of 5.76. According to the data, the short interest in Enbridge Inc. (ENB) stood at 0.92% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 14.09 million. The stock has risen by 5.55% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ENB stock heading into the next quarter.