Enable Midstream Partners (ENBL) Announces Quarterly Earnings Results

Enable Midstream Partners (NYSE:ENBL) issued its quarterly earnings data on Wednesday. The pipeline company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03, MarketWatch Earnings reports. Enable Midstream Partners had a net margin of 14.03% and a return on equity of 5.91%. The business had revenue of $928.00 million during the quarter, compared to analysts’ expectations of $821.64 million. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s revenue was up 31.6% on a year-over-year basis.

Shares of NYSE:ENBL traded down $0.10 during midday trading on Friday, hitting $14.96. The stock had a trading volume of 70,495 shares, compared to its average volume of 429,625. The stock has a market capitalization of $6.47 billion, a PE ratio of 16.26, a PEG ratio of 2.00 and a beta of 1.74. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. Enable Midstream Partners has a fifty-two week low of $12.89 and a fifty-two week high of $19.27.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Friday, November 16th will be given a $0.318 dividend. This represents a $1.27 annualized dividend and a dividend yield of 8.50%. The ex-dividend date is Thursday, November 15th. Enable Midstream Partners’s payout ratio is presently 138.04%.

Several institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. grew its holdings in shares of Enable Midstream Partners by 6.5% during the 3rd quarter. Alps Advisors Inc. now owns 7,738,598 shares of the pipeline company’s stock valued at $130,318,000 after purchasing an additional 469,337 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of Enable Midstream Partners by 5,033.0% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,053,200 shares of the pipeline company’s stock valued at $34,575,000 after purchasing an additional 2,013,200 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Enable Midstream Partners during the 3rd quarter valued at approximately $25,260,000. Perella Weinberg Partners Capital Management LP grew its holdings in shares of Enable Midstream Partners by 62.6% during the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 882,024 shares of the pipeline company’s stock valued at $15,091,000 after purchasing an additional 339,429 shares during the last quarter. Finally, Spirit of America Management Corp NY grew its holdings in shares of Enable Midstream Partners by 5.1% during the 2nd quarter. Spirit of America Management Corp NY now owns 714,308 shares of the pipeline company’s stock valued at $12,222,000 after purchasing an additional 34,800 shares during the last quarter. 20.49% of the stock is currently owned by institutional investors.

ENBL has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Enable Midstream Partners from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, October 10th. Bank of America dropped their target price on shares of Enable Midstream Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Wells Fargo & Co boosted their target price on shares of Enable Midstream Partners from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Friday, August 10th. Barclays boosted their target price on shares of Enable Midstream Partners from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, August 29th. Finally, ValuEngine upgraded shares of Enable Midstream Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $18.44.

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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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Earnings History for Enable Midstream Partners (NYSE:ENBL)

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