Zacks Investment Research Lowers Enable Midstream Partners (ENBL) to Hold
Zacks Investment Research cut shares of Enable Midstream Partners (NYSE:ENBL) from a buy rating to a hold rating in a report released on Tuesday morning.
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. “
A number of other equities research analysts have also commented on ENBL. Barclays decreased their price objective on Enable Midstream Partners from $15.00 to $14.00 and set an underweight rating for the company in a research report on Tuesday, April 17th. Wells Fargo & Co lowered Enable Midstream Partners from an outperform rating to a market perform rating in a research report on Thursday, May 17th. They noted that the move was a valuation call. ValuEngine lowered Enable Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, May 22nd. Citigroup lowered Enable Midstream Partners from a buy rating to a neutral rating and set a $18.00 price target for the company. in a report on Monday, June 4th. They noted that the move was a valuation call. Finally, Stifel Nicolaus set a $18.00 price target on Enable Midstream Partners and gave the company a hold rating in a report on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $18.33.
Enable Midstream Partners (NYSE:ENBL) last announced its quarterly earnings data on Thursday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.02). Enable Midstream Partners had a return on equity of 5.91% and a net margin of 14.03%. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $772.28 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The company’s revenue was up 28.6% compared to the same quarter last year. research analysts anticipate that Enable Midstream Partners will post 0.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 28th. Investors of record on Tuesday, August 21st will be paid a $0.318 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date of this dividend is Monday, August 20th. Enable Midstream Partners’s payout ratio is 138.04%.
In related news, insider Thomas L. Levescy sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $15.78, for a total value of $236,700.00. Following the transaction, the insider now directly owns 36,757 shares of the company’s stock, valued at approximately $580,025.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds have recently modified their holdings of the stock. Archford Capital Strategies LLC increased its position in Enable Midstream Partners by 101.3% in the 2nd quarter. Archford Capital Strategies LLC now owns 7,857 shares of the pipeline company’s stock worth $134,000 after buying an additional 3,954 shares during the period. Bank of Montreal Can bought a new position in Enable Midstream Partners in the 2nd quarter worth approximately $170,000. The Manufacturers Life Insurance Company increased its position in Enable Midstream Partners by 79.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,752 shares of the pipeline company’s stock worth $175,000 after buying an additional 5,661 shares during the period. First Allied Advisory Services Inc. bought a new position in Enable Midstream Partners in the 2nd quarter worth approximately $201,000. Finally, CIBC Asset Management Inc bought a new position in Enable Midstream Partners in the 2nd quarter worth approximately $268,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.
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.
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