Enbridge Stock Lags Market Ahead of Earnings With Revenue Decline Expected

Enbridge (ENB) stock has lagged the market recently, down 5% in the past month versus a 3-4% drop in the S&P 500.

Enbridge is expected to report an earnings decline of 12% and revenue drop of 6% in its next quarterly report on November 3.

For the full year, analysts forecast earnings growth of 4% and a revenue decline of 16% for Enbridge.

Enbridge currently has a Zacks Rank of #3 (Hold) based on estimate revisions trends. The oil and gas industry ranks in the top 42% out of 250+ industries.

Enbridge trades at a forward P/E of 14.23, representing a discount versus its industry average of 14.49. The stock has a PEG ratio of 2.37.