Enable Midstream Partners, LP (ENBL) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Enable Midstream Partners, LP (NYSE:ENBL) issued its quarterly earnings results on Tuesday. The pipeline company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01, Bloomberg Earnings reports. The company had revenue of $705.00 million during the quarter, compared to analysts’ expectations of $688.61 million. Enable Midstream Partners, had a net margin of 15.20% and a return on equity of 5.19%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS.
Enable Midstream Partners, (NYSE:ENBL) traded up 1.66% during midday trading on Wednesday, hitting $15.34. The stock had a trading volume of 68,792 shares. Enable Midstream Partners, has a 1-year low of $13.75 and a 1-year high of $17.36. The stock’s 50-day moving average is $15.34 and its 200-day moving average is $15.36. The stock has a market capitalization of $6.64 billion, a PE ratio of 18.20 and a beta of 1.98.
In related news, Director Sean Trauschke purchased 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $14.05 per share, for a total transaction of $35,125.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $70,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
A hedge fund recently raised its stake in Enable Midstream Partners, stock. The Manufacturers Life Insurance Company increased its stake in shares of Enable Midstream Partners, LP (NYSE:ENBL) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,714 shares of the pipeline company’s stock after buying an additional 497 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Enable Midstream Partners, were worth $107,000 at the end of the most recent quarter. 18.04% of the stock is currently owned by hedge funds and other institutional investors.
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Several brokerages have recently weighed in on ENBL. Zacks Investment Research raised shares of Enable Midstream Partners, from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research note on Tuesday. BidaskClub cut shares of Enable Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Enable Midstream Partners, in a research note on Monday, October 23rd. Finally, Tudor Pickering cut shares of Enable Midstream Partners, from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $17.04.
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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