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Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the us and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company. The firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.

Enbridge Inc

ENBRIDGE SRS L CUM RED PRF

ENBRIDGE SRS 5 CUM RED PRF

ENBRIDGE SRS 1 CUM RED PRF

ENBRIDGE INC 5.50% PFD A by Enbridge Inc.

ENBRIDGE INC PREF SER 13 by Enbridge Inc.

ENB FINANCIAL CORP PA by ENB Financial Corp.

ENB Financial Corp

ENBRIDGE INC RE PRF SER 7 by Enbridge Inc.

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) is set to give its latest quarterly earnings report on Friday, 2024-11-01. Here's what investors need to know before the announcement.
Analysts estimate that Enbridge will report an earnings per share (EPS) of $0.44. 
Enbridge bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Overview of Past Earnings</h3>
In the previous earnings release, the company missed EPS by $0.04, leading to a 0.0% drop in the share price the following trading session.
Here's a look at Enbridge's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.46</td>
<td>0.60</td>
<td>0.50</td>
<td>0.440</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.42</td>
<td>0.68</td>
<td>0.47</td>
<td>0.462</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>1.0%</td>
<td>-0.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730383236_0.png" alt="eps graph" />
<h3>Enbridge Share Price Analysis</h3>
Shares of Enbridge were trading at $40.59 as of October 30. Over the last 52-week period, shares are up 20.07%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/ENB/earnings">To track all earnings releases for Enbridge visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

A Look at Enbridge's Upcoming Earnings Report

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) is gearing up to announce its quarterly earnings on Friday, 2024-11-01. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Enbridge will report an earnings per share (EPS) of $0.44.
Investors in Enbridge are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Historical Earnings Performance</h3>
In the previous earnings release, the company missed EPS by $0.04, leading to a 0.0% drop in the share price the following trading session.
Here's a look at Enbridge's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.46</td>
<td>0.60</td>
<td>0.50</td>
<td>0.440</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.42</td>
<td>0.68</td>
<td>0.47</td>
<td>0.462</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>1.0%</td>
<td>-0.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730383229_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Enbridge were trading at $40.59 as of October 30. Over the last 52-week period, shares are up 20.1%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/ENB/earnings">To track all earnings releases for Enbridge visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Enbridge's Earnings Outlook

News

Contracts

MSFT

Enbridge Partners With Microsoft To Use AI To Drive Advancements In Safety, Emissions Reduction, And Asset Optimization Across Its Operations

Large Cap

Commodities

Markets

General

Enbridge Will Build, Own, And Operate Crude Oil And Natural Gas Pipelines In US Gulf Of Mexico For Kaskida Development, Operated By Bp Exploration & Production Company, Detailed Design And Procurement Activities Will Start In Early 2025 And Be Operational By 2029, With Cost Of ~$700M

Enterprise Products Partners LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epd#NYSE">EPD</a>) is currently considered undervalued, trading at a 9.81x trailing 12-month enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA), which is below the broader industry average of 11.89x.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6c/79322.jpg?v=432385788" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
While a discount valuation often presents a potentially profitable opportunity for investors, it is essential to investigate whether the partnership is facing any internal challenges. A more comprehensive analysis is required to determine if EPD&#39;s discounted valuation is justified based on its fundamentals, growth prospects and prevailing market conditions.
<h2>EPD&#39;s $7B Key Projects &amp; Handsome Distribution Yield</h2>
Enterprise Products, a top-tier North American midstream service provider, boasts a vast and diversified asset portfolio. This includes more than 50,000 miles of pipelines and a storage capacity of 300 million barrels. These assets are utilized by shippers on long-term contracts to transport and store natural gas liquids, crude oil, refined products and petrochemicals. The partnership also has 14 billion cubic feet of natural gas storage capacity, securing stable fee-based revenues.
Additionally, EPD is set to generate additional fee-based earnings with $6.7 billion worth of major capital projects either currently in service or under construction. These project backlogs will not only secure stable cashflows but will also generate handsome unit-holder returns.
<img alt="Enterprise Products Partners LP" src="https://staticx-tuner.zacks.com/images/articles/charts/42/75535.jpg?v=193354622" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Enterprise Products Partners LP
Supported by its stable and resilient business model, Enterprise Products has achieved 26 consecutive years of distribution hikes. The current distribution yield of the partnership stands at 7.2%, higher than 6.5% of the composite stocks belonging to the&nbsp;industry.
Distribution Yield
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/31/79324.jpg?v=379506337" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>EPD to Buy Pinon Midstream: Additional Fee-Based Earnings?</h2>
On Aug. 21, Enterprise Products announced an agreement to acquire Pi&ntilde;on Midstream for $950 million in an all-cash transaction. Pi&ntilde;on, a key player in gas gathering, compression and treating, operates in the Delaware Basin, a sub-basin of the Permian.
Once the acquisition of all the equity interests in Pi&ntilde;on is completed, likely in the fourth quarter of this year, Enterprise Products will secure additional fee-based earnings. This is because Pi&ntilde;on&#39;s assets, comprising 50 miles of natural gas gathering pipelines, compressor stations and treating facilities with plans for significant capacity expansion, are backed by long-term fee-based contracts, minimizing exposure to commodity price fluctuations and reducing volume risks.
Pi&ntilde;on operates a premier sour gas treatment system in the Delaware Basin, an area with significant untapped potential. With the acquisition, EPD will be able to establish a significant presence in the basin much faster.
<h2>Should Investors Take a Chance on Undervalued EPD Stock?</h2>
Despite these positive developments, the partnership&#39;s stock is trading at a discount to its true value. Year to date, its units have jumped 17.3%, lagging the industry&#39;s composite stock growth of 24.2%. Prominent midstream companies such as Kinder Morgan Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmi#NYSE">KMI</a>) and Enbridge Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/enb#NYSE">ENB</a>) have also surpassed EPD, achieving gains of 31% and 20.5%, respectively, during the same timeframe.
Year-To-Date Price Chart
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/64/79326.jpg?v=1283134383" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
It appears that Enterprise Products has the potential to outperform the industry once the stock market begins to acknowledge its true value. However, there are concerns surrounding the stock, particularly regarding EPD&#39;s rising long-term debt, which is near its highest level in over a decade. This debt is primarily being utilized to finance substantial capital projects, and analysts worry that significant debt reduction may not occur in the near term. Recently, the company issued $2.5 billion in bonds at relatively favorable rates, but current borrowing rates exceed historical averages, resulting in increasingly rapid interest payments.
While EPD is currently undervalued, investors are probably better off not buying the stock until there is greater clarity on the partnership&#39;s future. Those who already own the stock should hold on to it. The stock carries a Zacks Rank #3 (Hold) at present.
Notably, major brokers have increased EPD&#39;s short-term price target by 14.1% from its recent closing price of $29.25, with the highest target set at $37, indicating a potential upside of 26.5%. Consequently, current investors holding their units stand to benefit from this upward price trend in the interim.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/40/79323.jpg?v=1169870962" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
<a href="https://www.zacks.com/stock/news/2342205/is-enterprise-s-cheap-valuation-an-opportunity-to-invest-in-the-stock?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2342205">To read this article on Zacks.com click here.</a>

Equities

Bonds

Price Target

Analyst Ratings

Trading Ideas

Is Enterprise's Cheap Valuation an Opportunity to Invest in the Stock?

RBC Capital analyst Maurice Choy maintains Enbridge (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ENB#TSX">ENB</a>) with a Outperform and raises the price target from C$54 to C$55.

TSX:ENB

RBC Capital Maintains Outperform on Enbridge, Raises Price Target to C$55

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) reported quarterly earnings of $0.58 per share which missed the analyst consensus estimate of $0.64 by 9.38 percent. This is a 14.71 percent decrease over earnings of $0.68 per share from the same period last year. The company reported quarterly sales of $5.291 billion which missed the analyst consensus estimate of $5.713 billion by 7.39 percent. This is a 13.08 percent increase over sales of $4.679 billion the same period last year.

Earnings Misses

Enbridge Q2 2024 Adj. EPS C$0.58 Misses C$0.64 Estimate, Commodity Sales C$5.291B Miss C$5.713B Estimate

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) reported quarterly earnings of $0.58 per share which missed the analyst consensus estimate of $0.64 by 9.38 percent. This is a 14.71 percent decrease over earnings of $0.68 per share from the same period last year.

Enbridge Q2 2024 Adj. EPS C$0.58 Misses C$0.64 Estimate

FANG

WhiteWater, MPLX, And Enbridge Partner With Targa Resources To Construct Blackcomb Pipeline After Securing Agreements With Major Shippers Including Devon Energy, Diamondback Energy, Marathon Petroleum, And Targa Resources

Enbridge Says Co Did Experience Some Impacts To Business Applications As A Result Of The CrowdStrike Update; All Energy Infrastructure Is Stable And Operating As Normal, No Assets Are At Risk; Most Applications Are Now Restored And No Further Impacts Are Expected

Enbridge&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/enb#NYSE">ENB</a>) is once again under scrutiny as the U.S. Department of Justice (&quot;DOJ&quot;) has proposed amendments to a 2016 consent decree. This change could mandate Enbridge to address previously identified cracks in its extensive Lakehead pipeline system, including the controversial Line 5.
The backdrop to this development dates back to 2010 when two significant oil spills from ENB&#39;s pipelines near Marshall, MI, and Romeoville, IL, resulted in severe environmental damage. These spills led to the unlawful discharge of oil into U.S. waters, triggering a lawsuit by the United States under the Clean Water Act and the Oil Pollution Act. The legal action sought civil penalties, recovery of cleanup costs and injunctive relief to prevent future incidents.
In 2017, a Consent Decree approved by the United States District Court for the Western District of Michigan established stringent requirements for Enbridge&#39;s network of 14 pipelines, collectively known as the Lakehead System. This decree included specific criteria for selecting and repairing pipeline sections, imposing interim pressure restrictions, and monitoring for features such as cracks detected through In-Line Inspections.
The latest proposed modifications specifically target how Enbridge handles circumferential cracks that encircle the pipeline rather than running lengthwise. These changes would require Enbridge to reassess such cracks using new methodologies tailored to the unique threats posed by circumferential cracks. This reassessment would consider all potential stresses that could cause these cracks to grow and ultimately fail, obligating ENB to schedule any necessary repairs promptly.
The impetus for these proposed changes can be traced back to the catastrophic 2010 oil spill from Enbridge&#39;s Line 6b near Marshall, MI. This rupture released more than a million gallons of oil into Talmadge Creek and the Kalamazoo River, going undetected for several hours and causing extensive environmental damage.
The DOJ and Enbridge reached a settlement agreement in 2016 to resolve the lawsuits stemming from the Marshall and Romeoville spills. Now, with the proposed amendments, the DOJ aims to ensure that ENB takes more proactive and comprehensive measures to address pipeline integrity issues, particularly focusing on circumferential cracks.
The Lakehead System, which spans the Midwest, includes Line 5, a 71-year-old pipeline that runs beneath the ecologically sensitive Straits of Mackinac. This segment of the pipeline has been a focal point of environmental concerns and legal battles, with advocates calling for its shutdown due to the potential risk of an oil spill in the Great Lakes.
Once approved, the proposed changes to the consent decree could significantly impact Enbridge&#39;s operations, compelling the company to adopt enhanced safety measures and ensure the long-term integrity of its pipeline network. This move underscores the ongoing efforts by federal authorities to mitigate environmental risks and hold energy companies accountable for the safe operation of their infrastructure.
<h3>Zacks Rank &amp; Key Picks</h3>
Currently, Enbridge carries a Zack Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked stocks like&nbsp;GeoPark Ltd.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gprk#NYSE">GPRK</a>),&nbsp;Sunoco LP&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>) and&nbsp;The Williams Companies, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmb#NYSE">WMB</a>). GeoPark and Sunoco currently sport a Zacks Rank #1 (Strong Buy), whereas Williams Companies carries a Zacks Rank #2 (Buy).
GeoPark, based in Hamilton, Bermuda, is an explorer, operator and consolidator in the oil and gas sector. The company primarily operates in Chile, Colombia, Brazil and Argentina. It has a Zacks Style Score of A for Value and Growth.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $3.23 and $3.98, respectively. The company has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes more than 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Williams Companies is a premier energy infrastructure provider in North America. The company&#39;s core operations include finding, producing, gathering, processing and transportation of natural gas and natural gas liquids.WMB is paying out its shareholders an attractive dividend yielding around 5%.&nbsp;
The Zacks Consensus Estimate for WMB&#39;s 2024 and 2025 EPS is pegged at $1.79 and $2.03, respectively. The company has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2300176/enbridge-enb-faces-doj-pressure-for-pipeline-crack-repairs?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2300176">To read this article on Zacks.com click here.</a>

Government

Regulations

Small Cap

GPRK

Enbridge Faces DOJ Pressure for Pipeline Crack Repairs

Enbridge Says All Of Its Assets Along, Or Near, The U.S. Gulf Coast Are Up And Operating Except For Tres Palacios Gas Storage Facility In Texas; Pausing Operations At Tres Palacios Gas Storage Facility In Texas As A Precaution Due To Storm Beryl And Working With Upstream And Downstream Customers

Enbridge Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/enb#NYSE">ENB</a>) has unveiled plans for an expansion of the Westcoast Pipeline in British Columbia to address the rising natural gas demand in the province and the U.S. Pacific Northwest.
The Sunrise Expansion Program suggests extending the southern segment of the pipeline, referred to as Transmission-South.
The expansion project will add a 137-kilometer looping pipeline with a 42-inch diameter, significantly boosting the natural gas transportation capacity by 300 million cubic feet per day. The development is intended to ensure a steady supply of natural gas for various uses, including heating homes and businesses, powering hospitals and schools, and generating electricity.
The Westcoast Pipeline, operational for 70 years, has a history dating back to the 1950s when the initial 30-inch diameter pipeline was installed, followed by a 36-inch diameter pipeline in the 1970s. The system is regulated by the Canada Energy Regulator (&quot;CER&quot;) as it is an interprovincial pipeline.
Enbridge submitted its application for the Sunrise Expansion Program to the CER on May 30, 2024. The company anticipates starting construction in 2026, with a projected completion date by the end of 2028.
Westcoast Energy Inc., an Enbridge subsidiary, owns and operates the extensive Westcoast/BC Pipeline system, which spans more than 2,900 kilometers from Fort Nelson and Gordondale near the Alberta border to the Canada-U.S. border and Huntington/Sumas.
To minimize the project&#39;s impacts on local communities, Enbridge will implement a socio-economic management plan, recognizing the presence of indigenous groups in the area. The project will include temporary lodging and parking facilities, requiring approximately 10 acres of land to accommodate up to 120 workers during construction.
Furthermore, the company is committed to prioritizing workplace health and safety training, human rights protection, and human trafficking prevention awareness throughout the project.
The Sunrise Expansion Program reflects Enbridge&#39;s commitment to meeting the growing energy needs, while addressing socio-economic and environmental considerations in the regions it serves.
<h3>Zacks Rank &amp; Key Picks</h3>
Currently, Enbridge carries a Zack Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked companies mentioned below. The three companies presently carry a Zacks Rank #2 (Buy).
Enterprise Products Partners&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epd#NYSE">EPD</a>) is among the leading midstream energy players in North America. It has an extensive network of pipelines that spreads across more than 50,000 miles.
The Zacks Consensus Estimate for EPD&#39;s 2024 and 2025 earnings per share is pegged at $2.73 and $2.87, respectively. The company has a Zacks Style Score of A for Value and Momentum. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past seven days.
ProPetro Holding Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pump#NYSE">PUMP</a>) is an oilfield services provider operating primarily in the Permian Basin spread over West Texas and New Mexico. ProPetro&#39;s strategic transition to next-generation equipment, including FORCE electric fleets, underscores its market leadership and cutting-edge technology.
The Zacks Consensus Estimate for PUMP&#39;s 2024 and 2025 EPS is pegged at 67 cents and 83 cents, respectively. The company has a Zacks Style Score of A for Value and B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
USA Compression Partners, LP&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usac#NYSE">USAC</a>) is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USA Compression Partners earns its revenues from the overall horsepower use of natural gas transported rather than the price. As such, the partnership is largely insulated from fluctuations in commodity prices.
The Zacks Consensus Estimate for USAC&#39;s 2024 and 2025 EPS is pegged at 77 cents and 98 cents, respectively. The company has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2288018/enbridge-enb-announces-plans-to-expand-westcoast-pipeline?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2288018">To read this article on Zacks.com click here.</a>

PUMP

USAC

Enbridge Announces Plans to Expand Westcoast Pipeline

Enbridge Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/enb#NYSE">ENB</a>)&nbsp;gas unit is under scrutiny following claims from Canadian labor union Unifor that the company plans to cut its emergency response shifts in Toronto, aiming to reduce costs. Per a Reuters report, the cuts, if implemented, might affect evening and overnight shifts, along with compliance tasks like valve checking and inspections.
Unifor has raised alarms over the proposed reductions, urging local government agencies in Toronto to scrutinize Enbridge&#39;s contracts related to the maintenance and safety of natural gas lines. Lana Payne, the national president of Unifor, expressed concerns in a letter to government authorities, highlighting that the absence of overnight shifts would necessitate increased reliance on emergency services, delay critical interventions, and elevate the risk of gas incidents, ultimately placing the public at risk.
Earlier this year, Enbridge Gas implemented substantial job cuts, eliminating hundreds of positions. This move was part of its cost-reduction strategy, following the acquisition of three U.S. gas utilities from Dominion Energy for $14 billion.
Despite the job cuts, Enbridge Gas asserts that its emergency response capabilities remain intact. The company stated in an email to Reuters that the claim of insufficient employees to provide emergency response is categorically false.
According to the report, Enbridge Gas also mentioned that it is actively engaging with Unifor and working through the grievance and arbitration process to address the union&#39;s concerns.
As the situation unfolds, the focus remains on the potential impact on public safety and the effectiveness of Enbridge&#39;s emergency response capabilities in Toronto.
<h3>Zacks Rank &amp; Key Picks</h3>
Currently, Enbridge carries a Zack Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked stocks like Archrock Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aroc#NYSE">AROC</a>), Sunoco LP&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>) and SM Energy Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sm#NYSE">SM</a>). While Archrock and Sunoco sport a Zacks Rank #1 (Strong Buy) each, SM Energy carries a Zacks Rank #2 (Buy) at present.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
The Zacks Consensus Estimate for AROC&#39;s 2024 EPS is pegged at $1.07. The company has a Zacks Style Score of A for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past seven days.
SM Energy is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company&#39;s attractive oil and gas investments should create long-term value for shareholders.
The Zacks Consensus Estimate for SM&#39;s 2024 EPS is pegged at $6.63. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2285879/enbridge-enb-gas-faces-union-backlash-over-toronto-shift-cuts?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2285879">To read this article on Zacks.com click here.</a>

AROC

Enbridge Gas Faces Union Backlash Over Toronto Shift Cuts

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said he likes Enbridge Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>). &#8220;I trust that management <a href="https://www.benzinga.com/quote/ENB/analyst-ratings">team,&#8221; he added</a>.
On May 10, Enbridge posted better-than-expected quarterly earnings.
Lazard, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAZ#NYSE">LAZ</a>) is a good buy here, Cramer said. &#8220;I do believe that things are going to get a little less onerous&#8230; when it comes to takeovers.&#8221;
On May 20, Lazard announced that Ben Braun joined the firm as managing director and global head of Media, Entertainment &amp; Sports Advisory.
Cramer recommended staying away from AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) as there are so many great companies. &#8220;We don't need to be in that one,&#8221; he added.
On May 15, AST SpaceMobile and AT&amp;T announced a definitive commercial agreement.
The &#8220;Mad Money&#8221; host said Advanced Drainage Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMS#NYSE">WMS</a>) is &#8220;another incredible infrastructure play.&#8221;
On May 16, Advanced Drainage Systems posted upbeat quarterly sales.
Zebra Technologies Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZBRA#NASDAQ">ZBRA</a>) has &#8220;made it all the way back. Halleluiah for them,&#8221; Cramer said.
On May 20, Zebra Technologies announced the launch of a $500 million senior unsecured note private offering.
Jacobs Solutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/J#NYSE">J</a>) is doing &#8220;very well,&#8221; Cramer said. &#8220;I would want to own it.&#8221;
Last week, Jacobs announced the appointment of Venk Nathamuni as the company&#8217;s new chief financial officer, effective June 3.
&#8220;Let's stick with domestic,&#8221; Cramer said when asked about Petróleo Brasileiro S.A. &#8211; Petrobras (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>).
Last week, Brazil President Luiz Inacio Lula da Silva fired Petrobras CEO following a dispute over dividend payments.
Cramer said he is not going to say no to Sarepta Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>). &#8220;It has been a company that has not made money but is about to break out and make money,&#8221; he noted.
On May 1, Sarepta Therapeutics reported better-than-expected first-quarter financial results.
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) is fine, Cramer said. &#8220;It's got good commercial and good military.&#8221;
On May 6, Palantir said first-quarter revenue increased 21% year-over-year to $634 million, which beat the consensus estimate of $625.431 million.
Price Action:
<ul>
<li>Lazard shares gained 0.4% to settle at $41.16 on Tuesday.</li>
<li>Enbridge shares closed at $36.78 on Tuesday.</li>
<li>Petroleo Brasileiro shares slipped 0.7% to settle at $15.02.</li>
<li>Advanced Drainage System shares gained 1.1% to settle at $179.24 on Tuesday.</li>
<li>AST SpaceMobile shares fell 10.8% to settle at $4.71.</li>
<li>Zebra Technologies shares gained 0.5% to close at $321.78 on Tuesday.</li>
<li>Palantir shares fell 1.8% to close at $21.24.</li>
<li>Sarepta Therapeutics shares fell 1.3% to settle at $129.12.</li>
<li>Shares of Jacobs Solutions gained 1.4% to close at $ 138.79 during Tuesday's session.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38939401/top-5-health-care-stocks-which-could-rescue-your-portfolio-this-month">Top 5 Health Care Stocks Which Could Rescue Your Portfolio This Month</a>
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ASTS

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Jim Cramer: This Industrial Stock Is Doing 'Very Well'; Here's His Take On Palantir

Waste Management, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) reportedly explored divestment of its renewable natural gas business that could be worth about $3 billion.
The company is working with&nbsp;JP Morgan Chase &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) to gauge interest from potential energy companies and private equity firms, reported Reuters.
As per&nbsp;the report, Waste Management aims to offload the rights to develop RNG operations on 115 landfills that it owns, adding the company would retain ownership of the landfills.&nbsp;
If the deal talks conclude successfully, it would mark one of the biggest-ever asset sales in the nascent U.S. RNG industry, as per the report.
The company&#8217;s RNG unit currently generates about $150 million of EBITDA and projects that&nbsp;the unit would&nbsp;contribute over $500 million of adjusted earnings before interest, tax, depreciation and amortization (EBITDA) by 2026.&nbsp;
As per&nbsp;the report, Waste Management&nbsp;is hoping&nbsp;the unit&#8217;s valuation&nbsp;to&nbsp;be comparable to, or exceed,&nbsp;the earnings multiple at which Morrow Renewables sold RNG operations at landfills to&nbsp;Enbridge Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>)&nbsp;in late 2023.&nbsp;
Investors can gain exposure to the stock via&nbsp;VanEck Environmental&nbsp;Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVX#NYSE">EVX</a>) and&nbsp;IShares U.S.&nbsp;Utilities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDU#NYSE">IDU</a>).
Price Action: WM shares are up 0.17% at $212.56 premarket at&nbsp;the last check Friday.

Asset Sales

Market Vectors Environmental Services Index Fund

iShares Trust Dow Jones US Utilities Sector Index Fund

Waste Management Mulls $3B Sale Of RNG Business: Report

Pursuant to the ATM Option, Enbridge may issue and sell, at its discretion, up to $2.75 billion (or the U.S. dollar equivalent) of common shares of the Company (Common Shares) from treasury to the public from time to time, at the market prices

Enbridge Files Prospectus Supplements to Enable An At-the-Market Equity Issuance Funding Option for Its Acquisitions

U.S. stocks are on track to finish the week on a high, with the index futures pointing to a higher opening on Friday. The <a href="https://www.benzinga.com/markets/equities/24/05/38734795/unemployment-claims-surge-more-than-expected-hit-8-month-peak-dollar-falls-as-traders-bet-on-rat">recent string of weak data </a>has given raise to hopes that the Federal Reserve may have to relent and take rates lower. A few Federal Reserve speeches scheduled for the day will likely offer some color on what the central bank may do with rates this year.
A consumer sentiment reading and inflation expectations, which are a part of the report, and tapering earnings news flow could also impact trader sentiment. All eyes will be on the S&amp;P 500 Index to see if the upward momentum is strong enough to lift it past late March closing highs of 5,248.49.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.48%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.38%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.33%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.36%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Friday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.37% to $522.10,&nbsp;while the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.46% to $443.03, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Thanks to a spike in jobless claims to the highest since August 2023, the major averages all ended firmly in the green on Thursday. Commenting on the data, fund manager Louis Navellier said, &#8220;Overall, since the Fed has an unemployment mandate, rising jobless claims should help to coax the Fed to cut key interest rates sooner than later.&#8221;
The indices opened on a mixed note, but turned uniformly higher in late-morning trading. Subsequently, they stayed firmly in the green before ending the session higher. All S&amp;P sectors, with the exception of IT stocks, gained ground, with energy and real estate stocks seeing standout gains.
The Dow Jones Industrial Average extended its winning streak to seven, with the Dow, S&amp;P 500 Index and the Russell 2,000 Index now at their highest closing levels in over a month. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td> Index</td>
<td> Performance (+/-)</td>
<td> Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.27%</td>
<td>16,346.26</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.51%</td>
<td>5,214.08</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.85%</td>
<td>39,387.76</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.90%</td>
<td>2,073.63</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fund Strat&#8217;s Tom Lee sees the week&#8217;s market performance as positive. While noting that the S&amp;P 500 Index was up 1.7% so far this week on a &#8220;light macro&#8221; week, the market strategist said, &#8220;It's positive that markets drift higher on the absence of data.&#8221;
He also remarked about the outsized gains by small-cap stocks. The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) has added 1.96% this week.
Fund Strat sees the upcoming April inflation data coming in line and highlighting the possibility that &#8220;auto insurance's disproportionate impact on CPI is ebbing.&#8221; The firm expects this to push higher the number of Fed cuts for the year, which is positive for stocks. &#8220;Bottom line, we are still &#8216;buy in May.&#8217; The fact that stocks rose this week is a positive signal,&#8221; it said.
Upcoming Economic Data:
<ul>
<li>Fed Governor Michelle Bowman is scheduled to speak at 9 a.m. EDT.</li>
<li>The University of Michigan will release its preliminary consumer sentiment index for May at 10 a.m. EDT. Economists expect the index to come in at 76, down from 77.2 in April. The report also has a few inflation expectations readings, which will likely clarify about the forward inflation outlook.</li>
<li>Chicago Fed President Austan Goolsbee and Minneapolis Fed President Neel Kashkari are due to speak at 1 p.m. EDT.</li>
<li>Fed Vice Chair for Supervision Michael Barr will make a public appearance at 1:30 p.m. EDT.</li>
<li>The U.S. Treasury will release its monthly federal budget for April at 2 p.m. EDT, with the balance expected to turn to a surplus of $244.5 billion from a deficit of $235 billion in March.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li> Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) fell over 10% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s quarterly results announcement.</li>
<li>Other stocks moving on earnings are Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) (over 3.50%), Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>) (down about 10.5%), Natera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>) (up over 15%) and Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) (down over 7%).</li>
<li>Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) climbed over 6% following the release of its preliminary first-quarter results.</li>
<li>Enbridge Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) and Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies due to release their quarterly results ahead of the market opening.</a></li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures rose for a third straight session and they were up about 0.72% to a little under $80 a barrel. Meanwhile, gold futures rallied over 1.75% to $2,382.15. The 10-year bond yield, which pulled back on Thursday in the wake of the jobless claims data, traded up 2 basis points to 4.451%.
The Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose over 3% and has topped $65,000.
The global equity markets were all in the green on Friday, tracking the buoyancy on Wall Street overnight. Asian stocks closed higher, led by the Hong Kong market, although the Malaysian markets ended marginally lower. The major European markets advanced in early trading, with the Euro STOXX 50 Index up 0.80%.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38746512/utilities-notch-7th-straight-session-of-gains-potential-derivative-play-to-the-ai-b">Utilities Notch 7th Straight Session Of Gains: &#8216;Potential Derivative Play To The AI Boom&#8217;</a>
Photo by Jirapong Manustrong on Shutterstock

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Previews

Economics

Federal Reserve

Pre-Market Outlook

Movers

$BTC

AKAM

BLNK

NTNX

NTRA

NVAX

NVTS

VSCO

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US Stocks Set To End Week Strong With S&P 500 Eyeing Break Above Late-March Peak: Analyst Says He's Still A Buy In May Amid This Positive Signal

FINANCIAL&nbsp;OUTLOOK
The Company reaffirms its 2024 Base Business financial&nbsp;guidance&nbsp;for EBITDA and DCF. Results in the&nbsp;first quarter&nbsp;of 2024 are in line with the Company&#39;s expectations. Enbridge continues to anticipate strong asset utilization and operating performance in 2024 with normal course&nbsp; easonality, including Mainline volumes of approximately 3.0 million barrels per day on average for the year.

Guidance

Enbridge Reaffirmed Its 2024 Full Guidance Of EBITDA Of C$16.6B-C$17.2B And DCF Per Share Of C$5.40-C$5.80

My Dividend Stock Portfolio: New September Dividend Record - 100 Holdings With 12 Buys

Dividend Harvesting Portfolio Week 190: $19,000 Allocated, $1,792.47 In Projected Dividends

Very Good News For Big Dividend Infrastructure Stocks

Morgan Stanley resumed coverage of Enbridge (ENB) with an Equal Weight rating and C$64 price target The company's "consistent growth" across liquid...

Enbridge resumed with an Equal Weight at Morgan Stanley

PID: Mostly Canadian Dividend Growth ETF

Exploring Canadian Opportunities

Why You Should Plan For $2 Million For Retirement

RBC Capital analyst Maurice Choy maintained a Buy rating on Enbridge (ENB – Research Report) on October 27 and set a price target of C$59.00. The c...

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