Mission Wealth Management LP Invests $236,000 in Enable Midstream Partners, LP (NYSE:ENBL)

Mission Wealth Management LP purchased a new position in shares of Enable Midstream Partners, LP (NYSE:ENBL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 56,945 shares of the pipeline company’s stock, valued at approximately $236,000.

Several other hedge funds have also modified their holdings of the company. Brookfield Asset Management Inc. bought a new stake in shares of Enable Midstream Partners during the second quarter valued at approximately $9,776,000. First Trust Advisors LP increased its position in shares of Enable Midstream Partners by 64.1% during the second quarter. First Trust Advisors LP now owns 1,709,225 shares of the pipeline company’s stock valued at $7,999,000 after purchasing an additional 667,807 shares during the period. Kayne Anderson Capital Advisors LP bought a new stake in shares of Enable Midstream Partners during the second quarter valued at approximately $5,418,000. Bank of America Corp DE increased its position in shares of Enable Midstream Partners by 227.1% during the second quarter. Bank of America Corp DE now owns 807,289 shares of the pipeline company’s stock valued at $3,778,000 after purchasing an additional 560,514 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Enable Midstream Partners by 103.6% during the second quarter. Goldman Sachs Group Inc. now owns 728,381 shares of the pipeline company’s stock valued at $3,409,000 after purchasing an additional 370,699 shares during the period. Institutional investors own 10.61% of the company’s stock.

Shares of ENBL opened at $4.62 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.63. Enable Midstream Partners, LP has a 12-month low of $1.61 and a 12-month high of $11.01. The firm has a market capitalization of $2.01 billion, a PE ratio of 8.11 and a beta of 2.67. The stock’s fifty day simple moving average is $4.69 and its 200-day simple moving average is $4.52.

Enable Midstream Partners (NYSE:ENBL) last issued its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Enable Midstream Partners had a return on equity of 5.91% and a net margin of 11.80%. The business had revenue of $515.00 million for the quarter, compared to analyst estimates of $708.94 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The firm’s revenue for the quarter was down 29.9% compared to the same quarter last year. Analysts anticipate that Enable Midstream Partners, LP will post 0.61 EPS for the current year.

ENBL has been the topic of a number of analyst reports. Wolfe Research upgraded Enable Midstream Partners from a “peer perform” rating to an “outperform” rating in a research report on Thursday, August 6th. Morgan Stanley initiated coverage on Enable Midstream Partners in a research report on Friday, September 25th. They issued an “underweight” rating and a $3.00 price target on the stock. Zacks Investment Research cut Enable Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Finally, ValuEngine cut Enable Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 1st. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Enable Midstream Partners has an average rating of “Hold” and an average price target of $5.80.

Enable Midstream Partners 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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Institutional Ownership by Quarter for Enable Midstream Partners (NYSE:ENBL)

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