Kayne Anderson Capital Advisors LP grew its holdings in shares of Enable Midstream Partners LP (NYSE:ENBL) by 5,033.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,053,200 shares of the pipeline company’s stock after purchasing an additional 2,013,200 shares during the period. Kayne Anderson Capital Advisors LP owned approximately 0.47% of Enable Midstream Partners worth $34,575,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Wells Fargo & Company MN increased its holdings in Enable Midstream Partners by 21.6% in the 1st quarter. Wells Fargo & Company MN now owns 30,536 shares of the pipeline company’s stock valued at $419,000 after acquiring an additional 5,434 shares during the last quarter. Bank of Montreal Can bought a new stake in Enable Midstream Partners in the 2nd quarter valued at $170,000. Conning Inc. increased its holdings in Enable Midstream Partners by 5.7% in the 2nd quarter. Conning Inc. now owns 134,766 shares of the pipeline company’s stock valued at $2,306,000 after acquiring an additional 7,324 shares during the last quarter. Virtu Financial LLC bought a new stake in Enable Midstream Partners in the 2nd quarter valued at $332,000. Finally, Duff & Phelps Investment Management Co. increased its holdings in Enable Midstream Partners by 28.4% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 475,000 shares of the pipeline company’s stock valued at $8,127,000 after acquiring an additional 105,000 shares during the last quarter. 20.82% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the stock. 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 report on Friday, August 10th. Zacks Investment Research upgraded shares of Enable Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. Stifel Nicolaus set a $19.00 price target on shares of Enable Midstream Partners and gave the company a “hold” rating in a report on Sunday, August 5th. Bank of America reduced their price target on shares of Enable Midstream Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Finally, ValuEngine downgraded shares of Enable Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.44.
Enable Midstream Partners (NYSE:ENBL) last issued its quarterly earnings data on Wednesday, November 7th. The pipeline company reported $0.30 EPS for the quarter, topping 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 6.28%. 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 company posted $0.24 EPS. The business’s revenue was up 31.6% on a year-over-year basis. As a group, research analysts expect that Enable Midstream Partners LP will post 0.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Friday, November 16th will be paid a $0.318 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 9.13%. Enable Midstream Partners’s payout ratio is currently 138.04%.
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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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