Enable Midstream Partners (ENBL) Downgraded to Hold at Zacks Investment Research

Enable Midstream Partners (NYSE:ENBL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

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. “

Separately, Bank of America cut their price target on Enable Midstream Partners from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday, October 26th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $18.13.

Enable Midstream Partners stock traded down $0.45 during mid-day trading on Friday, reaching $14.81. 411,460 shares of the stock traded hands, compared to its average volume of 457,083. The stock has a market cap of $6.72 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.84 and a beta of 1.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.34. Enable Midstream Partners has a 12-month low of $12.31 and a 12-month high of $19.27.

Enable Midstream Partners (NYSE:ENBL) last posted its quarterly earnings data on Wednesday, November 7th. The pipeline company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $928.00 million during the quarter, compared to analysts’ expectations of $821.64 million. Enable Midstream Partners had a return on equity of 6.28% and a net margin of 13.84%. Enable Midstream Partners’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. As a group, sell-side analysts predict that Enable Midstream Partners will post 0.99 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System bought a new position in shares of Enable Midstream Partners in the second quarter worth about $348,000. Ballentine Partners LLC bought a new position in shares of Enable Midstream Partners in the third quarter worth about $476,000. Russell Investments Group Ltd. bought a new position in shares of Enable Midstream Partners in the third quarter worth about $573,000. GSA Capital Partners LLP bought a new position in shares of Enable Midstream Partners in the third quarter worth about $613,000. Finally, Virtu Financial LLC boosted its stake in shares of Enable Midstream Partners by 35.6% in the third quarter. Virtu Financial LLC now owns 45,943 shares of the pipeline company’s stock worth $774,000 after acquiring an additional 12,060 shares during the period. 19.47% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: Trading Strategy Methods and Types

Get a free copy of the Zacks research report on Enable Midstream Partners (ENBL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Enable Midstream Partners (NYSE:ENBL)

Receive News & Ratings for Enable Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enable Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply