Zacks Investment Research downgraded shares of Enable Midstream Partners (NYSE:ENBL) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
According to Zacks, “Enable Midstream Partners, LP owns, operates and develops natural gas and crude oil infrastructure assets serving major producing basins and markets. It operates through two business segments: Gathering and Processing, and Transportation and Storage. The Gathering and Processing segment provides natural gas gathering, processing and fractionation services and crude oil gathering for its producer customers. The Transportation and Storage segment offers interstate and intrastate natural gas pipeline transportation and storage service to natural gas producers, utilities and industrial customers. Enable Midstream Partners, LP is based in Oklahoma City, Oklahoma. “
Other research analysts also recently issued reports about the stock. UBS Group reaffirmed a buy rating and issued a $20.00 target price (up from $19.00) on shares of Enable Midstream Partners in a research report on Wednesday. Bank of America initiated coverage on shares of Enable Midstream Partners in a research report on Tuesday, January 9th. They issued a buy rating on the stock. R. F. Lafferty initiated coverage on shares of Enable Midstream Partners in a research report on Wednesday, December 6th. They issued a buy rating and a $19.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of Enable Midstream Partners from an overweight rating to a neutral rating in a research report on Tuesday, November 21st. Finally, Goldman Sachs Group initiated coverage on shares of Enable Midstream Partners in a research report on Friday, November 17th. They issued a neutral rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $18.38.
Enable Midstream Partners (NYSE:ENBL) opened at $14.33 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.33 and a quick ratio of 0.49. The company has a market cap of $6,198.63, a price-to-earnings ratio of 15.41, a P/E/G ratio of 1.91 and a beta of 1.89. Enable Midstream Partners has a 52-week low of $13.75 and a 52-week high of $17.25.
Enable Midstream Partners (NYSE:ENBL) last posted its earnings results on Tuesday, February 20th. The pipeline company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $806.00 million for the quarter, compared to the consensus estimate of $678.22 million. Enable Midstream Partners had a net margin of 15.23% and a return on equity of 5.81%. The company’s revenue was up 31.3% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. research analysts predict that Enable Midstream Partners will post 0.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.318 per share. This represents a $1.27 dividend on an annualized basis and a yield of 8.88%. The ex-dividend date of this dividend is Friday, February 16th. Enable Midstream Partners’s dividend payout ratio is currently 136.56%.
Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in Enable Midstream Partners by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,714 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 497 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Enable Midstream Partners during the 4th quarter worth $117,000. Starfire Investment Advisers Inc. acquired a new stake in Enable Midstream Partners during the 4th quarter worth $145,000. Citadel Advisors LLC boosted its stake in Enable Midstream Partners by 425.8% during the 3rd quarter. Citadel Advisors LLC now owns 10,228 shares of the pipeline company’s stock worth $163,000 after purchasing an additional 13,367 shares during the period. Finally, Koch Industries Inc. acquired a new stake in Enable Midstream Partners during the 4th quarter worth $195,000. Hedge funds and other institutional investors own 18.28% of the company’s stock.
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Enable Midstream Partners Company Profile
Enable Midstream Partners LP owns, operates and develops midstream energy infrastructure assets strategically located to serve its customers. The Company operates in two business segments: Gathering and Processing, and Transportation and Storage. Its gathering and processing segment primarily provides natural gas and crude oil gathering and natural gas processing services to its producer customers.
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