Enable Midstream Partners LP (NYSE:ENBL) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 4,400,000 shares, a decline of 10.6% from the January 15th total of 4,920,000 shares. Approximately 5.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is currently 3.8 days.
A number of analysts have weighed in on ENBL shares. ValuEngine raised shares of Enable Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Co upgraded shares of Enable Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $12.00 price target on the stock in a report on Tuesday, January 7th. Finally, Zacks Investment Research upgraded shares of Enable Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $15.43.
Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake in Enable Midstream Partners by 4.1% during the second quarter. Royal Bank of Canada now owns 28,807 shares of the pipeline company’s stock valued at $395,000 after acquiring an additional 1,144 shares during the period. Duff & Phelps Investment Management Co. grew its stake in shares of Enable Midstream Partners by 9.3% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 590,000 shares of the pipeline company’s stock valued at $7,098,000 after purchasing an additional 50,000 shares during the period. Miller Howard Investments Inc. NY grew its stake in shares of Enable Midstream Partners by 136.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 507,150 shares of the pipeline company’s stock valued at $6,101,000 after purchasing an additional 292,740 shares during the period. NEXT Financial Group Inc grew its stake in shares of Enable Midstream Partners by 97.6% in the 3rd quarter. NEXT Financial Group Inc now owns 14,500 shares of the pipeline company’s stock valued at $174,000 after purchasing an additional 7,163 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Enable Midstream Partners in the 3rd quarter valued at approximately $9,410,000. Institutional investors own 17.83% of the company’s stock.
Shares of NYSE:ENBL traded down $0.33 during mid-day trading on Friday, reaching $8.73. 1,159,400 shares of the company’s stock were exchanged, compared to its average volume of 874,494. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 1.60 and a beta of 1.23. The business’s fifty day moving average price is $9.94 and its 200-day moving average price is $10.91. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.45 and a current ratio of 0.51. Enable Midstream Partners has a twelve month low of $8.57 and a twelve month high of $16.05.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.3305 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.14%. Enable Midstream Partners’s dividend payout ratio (DPR) is presently 118.92%.
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.
Featured Story: What economic reports are most valuable to investors?
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.