Enable Midstream Partners, LP (ENBL) Given Average Rating of “Hold” by Brokerages
Enable Midstream Partners, LP (NYSE:ENBL) has received a consensus recommendation of “Hold” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $16.21.
Several research analysts recently commented on the stock. BidaskClub upgraded shares of Enable Midstream Partners, from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Enable Midstream Partners, from a “buy” rating to a “sell” rating in a report on Tuesday, July 18th. Citigroup Inc. reiterated a “neutral” rating and issued a $16.25 target price (up previously from $14.00) on shares of Enable Midstream Partners, in a report on Thursday, June 1st. TheStreet upgraded shares of Enable Midstream Partners, from a “c” rating to a “b-” rating in a report on Monday, June 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $18.00 target price on shares of Enable Midstream Partners, in a report on Tuesday, June 6th.
Shares of Enable Midstream Partners, (ENBL) traded down 0.41% on Friday, hitting $14.73. The company had a trading volume of 127,523 shares. The company has a 50 day moving average of $14.63 and a 200-day moving average of $15.58. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 17.47 and a beta of 1.97. Enable Midstream Partners, has a 12-month low of $13.75 and a 12-month high of $17.36.
Enable Midstream Partners, (NYSE:ENBL) last announced its earnings results on Tuesday, August 1st. The pipeline company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. The firm had revenue of $626.00 million for the quarter, compared to the consensus estimate of $644.27 million. Enable Midstream Partners, had a net margin of 15.20% and a return on equity of 5.19%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, analysts forecast that Enable Midstream Partners, will post $0.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 22nd were paid a $0.318 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.27 dividend on an annualized basis and a yield of 8.64%. Enable Midstream Partners,’s payout ratio is currently 147.68%.
In related news, major shareholder Arclight Capital Partners, Llc sold 20,526 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $16.00, for a total value of $328,416.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sean Trauschke bought 2,500 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average cost of $14.05 per share, for a total transaction of $35,125.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $70,250. The disclosure for this purchase can be found here. In the last three months, insiders sold 29,601 shares of company stock worth $473,667.
A number of large investors have recently added to or reduced their stakes in ENBL. Bank of America Corp DE boosted its position in Enable Midstream Partners, by 1,181.3% in the first quarter. Bank of America Corp DE now owns 874,024 shares of the pipeline company’s stock valued at $14,587,000 after buying an additional 805,809 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Enable Midstream Partners, in the first quarter valued at about $11,636,000. Goldman Sachs Group Inc. boosted its position in Enable Midstream Partners, by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,677,492 shares of the pipeline company’s stock valued at $27,997,000 after buying an additional 423,558 shares in the last quarter. Wellington Management Group LLP acquired a new position in Enable Midstream Partners, in the first quarter valued at about $3,462,000. Finally, Bank of Montreal Can boosted its position in Enable Midstream Partners, by 3,729.8% in the second quarter. Bank of Montreal Can now owns 207,155 shares of the pipeline company’s stock valued at $3,302,000 after buying an additional 201,746 shares in the last quarter. Hedge funds and other institutional investors own 18.04% of the company’s stock.
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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