Enable Midstream Partners, LP (NYSE:ENBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, August 9th.
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. “
A number of other research analysts have also recently commented on ENBL. Credit Suisse Group upgraded Enable Midstream Partners, from a “neutral” rating to an “outperform” rating and raised their target price for the company from $18.00 to $20.00 in a research note on Monday, May 8th. Citigroup Inc. reiterated a “neutral” rating and set a $16.25 price objective (up previously from $14.00) on shares of Enable Midstream Partners, in a research note on Thursday, June 1st. Royal Bank Of Canada reiterated a “hold” rating and set a $18.00 price objective on shares of Enable Midstream Partners, in a research note on Tuesday, June 6th. TheStreet upgraded Enable Midstream Partners, from a “c” rating to a “b-” rating in a research note on Monday, June 5th. Finally, BidaskClub upgraded Enable Midstream Partners, from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $16.91.
Enable Midstream Partners, (ENBL) traded down 0.23% during midday trading on Wednesday, hitting $14.00. The stock had a trading volume of 182,603 shares. The firm’s 50-day moving average price is $15.15 and its 200 day moving average price is $15.86. Enable Midstream Partners, has a 12 month low of $13.53 and a 12 month high of $17.36. The company has a market cap of $6.06 billion, a P/E ratio of 16.61 and a beta of 1.98.
Enable Midstream Partners, (NYSE:ENBL) last released its earnings results on Tuesday, August 1st. The pipeline company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.04. The company had revenue of $626 million during the quarter, compared to analysts’ expectations of $644.27 million. Enable Midstream Partners, had a return on equity of 5.19% and a net margin of 15.20%. The company’s revenue was up 18.3% on a year-over-year basis. On average, analysts expect that Enable Midstream Partners, will post $0.86 earnings per share for the current fiscal year.
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In related news, major shareholder Arclight Capital Partners, Llc sold 4,000 shares of Enable Midstream Partners, stock in a transaction on Monday, July 17th. The stock was sold at an average price of $16.00, for a total value of $64,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 105,291 shares of company stock valued at $1,699,317 in the last ninety days.
Hedge funds have recently added to or reduced their stakes in the stock. Heritage Trust Co acquired a new position in shares of Enable Midstream Partners, during the first quarter valued at approximately $100,000. The Manufacturers Life Insurance Company increased its stake in Enable Midstream Partners, by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,714 shares of the pipeline company’s stock worth $107,000 after buying an additional 497 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new stake in Enable Midstream Partners, during the first quarter worth approximately $180,000. Pointe Capital Management LLC purchased a new stake in Enable Midstream Partners, during the first quarter worth approximately $198,000. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Enable Midstream Partners, during the first quarter valued at $210,000. 18.33% of the stock is owned by institutional investors and hedge funds.
About Enable Midstream Partners,
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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