Enable Midstream Partners (NYSE:ENBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
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. “
Several other research firms also recently weighed in on ENBL. Wells Fargo & Co raised Enable Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a report on Tuesday, January 7th. ValuEngine raised Enable Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. TheStreet downgraded Enable Midstream Partners from a “b-” rating to a “c+” rating in a report on Tuesday, October 15th. Finally, Barclays set a $14.00 price objective on Enable Midstream Partners and gave the company a “hold” rating in a report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.43.
Shares of NYSE ENBL traded down $0.23 during mid-day trading on Wednesday, hitting $10.20. 638,987 shares of the stock traded hands, compared to its average volume of 887,817. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.51 and a quick ratio of 0.45. Enable Midstream Partners has a twelve month low of $8.82 and a twelve month high of $16.49. The company has a market cap of $4.63 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. The firm has a 50 day simple moving average of $10.16 and a two-hundred day simple moving average of $11.45.
Enable Midstream Partners (NYSE:ENBL) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Enable Midstream Partners had a return on equity of 7.65% and a net margin of 17.36%. The company had revenue of $699.00 million for the quarter, compared to the consensus estimate of $890.64 million. During the same quarter last year, the business posted $0.30 EPS. Enable Midstream Partners’s revenue for the quarter was down 24.7% on a year-over-year basis. On average, equities research analysts anticipate that Enable Midstream Partners will post 1.04 earnings per share for the current fiscal year.
In related news, Director Sean Trauschke bought 10,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $9.70 per share, with a total value of $97,000.00. Following the acquisition, the director now owns 17,500 shares of the company’s stock, valued at $169,750. The purchase was disclosed in a filing with the SEC, which is available through this link.
A number of institutional investors and hedge funds have recently made changes to their positions in ENBL. Alps Advisors Inc. lifted its holdings in Enable Midstream Partners by 37.9% during the 3rd quarter. Alps Advisors Inc. now owns 10,772,567 shares of the pipeline company’s stock worth $129,594,000 after buying an additional 2,960,918 shares during the period. Kayne Anderson Capital Advisors LP acquired a new position in Enable Midstream Partners during the 3rd quarter worth about $16,673,000. Teacher Retirement System of Texas acquired a new position in Enable Midstream Partners during the 3rd quarter worth about $9,410,000. Miller Howard Investments Inc. NY lifted its holdings in Enable Midstream Partners by 136.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 507,150 shares of the pipeline company’s stock worth $6,101,000 after buying an additional 292,740 shares during the period. Finally, UBS Group AG lifted its holdings in Enable Midstream Partners by 3.9% during the 2nd quarter. UBS Group AG now owns 2,857,554 shares of the pipeline company’s stock worth $39,177,000 after buying an additional 107,436 shares during the period. 17.85% of the stock is currently owned by hedge funds and other institutional investors.
Enable Midstream Partners Company Profile
Enable Midstream Partners, LP owns, operates, and develops midstream energy infrastructure assets in the United States. The company operates in two segments, Gathering and Processing; and Transportation and Storage. The Gathering and Processing segment provides natural gas gathering, processing, and fractionation services in the Anadarko, Arkoma, and Ark-La-Tex basins, as well as crude oil gathering services in the Bakken Shale formation of the Williston Basin for its producer customers.
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