Enable Midstream Partners (ENBL) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Enable Midstream Partners (NYSE:ENBL) from a sell rating to a hold rating in a research note released on Wednesday 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. “

ENBL has been the subject of a number of other reports. Bank of America dropped their price target 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 lifted their price target 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 lifted their price target 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. ValuEngine upgraded shares of Enable Midstream Partners from a hold rating to a buy rating in a research report on Wednesday, July 18th. Finally, Stifel Nicolaus set a $19.00 price target on shares of Enable Midstream Partners and gave the company a hold rating in a research report on Sunday, August 5th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $18.44.

Shares of ENBL traded down $0.21 during trading on Wednesday, reaching $14.85. 272,281 shares of the company traded hands, compared to its average volume of 435,364. Enable Midstream Partners has a twelve month low of $12.89 and a twelve month high of $19.27. The stock has a market cap of $6.49 billion, a PE ratio of 16.14, a P/E/G ratio of 2.01 and a beta of 1.74. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.34 and a quick ratio of 0.31.

Enable Midstream Partners (NYSE:ENBL) last announced its quarterly earnings results on Wednesday, November 7th. The pipeline company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. Enable Midstream Partners had a net margin of 13.84% and a return on equity of 6.27%. The business had revenue of $928.00 million during the quarter, compared to analysts’ expectations of $821.64 million. During the same period last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. As a group, sell-side analysts expect that Enable Midstream Partners will post 0.99 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Friday, November 16th will be paid a $0.318 dividend. This represents a $1.27 annualized dividend and a dividend yield of 8.57%. The ex-dividend date is Thursday, November 15th. Enable Midstream Partners’s payout ratio is 138.04%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Archford Capital Strategies LLC boosted its stake in shares of Enable Midstream Partners by 101.3% in the second quarter. Archford Capital Strategies LLC now owns 7,857 shares of the pipeline company’s stock valued at $134,000 after purchasing an additional 3,954 shares during the period. Bank of Montreal Can purchased a new position in shares of Enable Midstream Partners in the second quarter valued at approximately $170,000. First Allied Advisory Services Inc. purchased a new position in shares of Enable Midstream Partners in the second quarter valued at approximately $201,000. The Manufacturers Life Insurance Company boosted its stake in shares of Enable Midstream Partners by 79.8% in the first quarter. The Manufacturers Life Insurance Company now owns 12,752 shares of the pipeline company’s stock valued at $175,000 after purchasing an additional 5,661 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in shares of Enable Midstream Partners in the second quarter valued at approximately $268,000. 20.49% 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 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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