Enable Midstream Partners LP (ENBL) Expected to Post Earnings of $0.18 Per Share
Wall Street analysts predict that Enable Midstream Partners LP (NYSE:ENBL) will post earnings per share of $0.18 for the current quarter, Zacks reports. Zero analysts have made estimates for Enable Midstream Partners’ earnings. The highest EPS estimate is $0.19 and the lowest is $0.16. Enable Midstream Partners reported earnings per share of $0.19 in the same quarter last year, which indicates a negative year-over-year growth rate of 5.3%. The company is expected to issue its next earnings report before the market opens on Wednesday, May 3rd.
According to Zacks, analysts expect that Enable Midstream Partners will report full year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.81. For the next financial year, analysts forecast that the firm will post earnings of $0.86 per share, with EPS estimates ranging from $0.80 to $0.94. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Enable Midstream Partners.
Enable Midstream Partners (NYSE:ENBL) last posted its earnings results on Tuesday, February 21st. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04. The firm had revenue of $614 million for the quarter, compared to analyst estimates of $637.84 million. Enable Midstream Partners had a net margin of 13.31% and a return on equity of 4.23%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share.
A number of equities research analysts have commented on ENBL shares. Stifel Nicolaus started coverage on shares of Enable Midstream Partners in a report on Wednesday, January 18th. They set a “hold” rating and a $16.00 price objective on the stock. Zacks Investment Research raised shares of Enable Midstream Partners from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, January 17th. Wells Fargo & Co raised shares of Enable Midstream Partners from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 11th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $15.00 price objective on shares of Enable Midstream Partners in a report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Enable Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $16.13.
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In other news, insider Thomas L. Levescy sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $16.24, for a total value of $73,080.00. Following the transaction, the insider now owns 15,422 shares of the company’s stock, valued at approximately $250,453.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge funds and other institutional investors have recently modified their holdings of the stock. A.R.T. Advisors LLC acquired a new position in shares of Enable Midstream Partners during the fourth quarter valued at about $352,000. Renaissance Technologies LLC acquired a new position in shares of Enable Midstream Partners during the fourth quarter valued at about $1,512,000. Advisory Research Inc. raised its position in shares of Enable Midstream Partners by 19.8% in the fourth quarter. Advisory Research Inc. now owns 7,761,905 shares of the pipeline company’s stock valued at $122,094,000 after buying an additional 1,280,250 shares during the period. Allianz Asset Management AG acquired a new position in shares of Enable Midstream Partners during the fourth quarter valued at about $5,053,000. Finally, Koch Industries Inc. acquired a new position in shares of Enable Midstream Partners during the fourth quarter valued at about $172,000. 16.62% of the stock is currently owned by institutional investors.
Enable Midstream Partners (NYSE:ENBL) traded up 0.49% on Monday, reaching $16.43. 90,071 shares of the company’s stock were exchanged. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 24.02 and a beta of 2.08. Enable Midstream Partners has a 12 month low of $10.37 and a 12 month high of $17.36. The firm has a 50-day moving average of $16.37 and a 200-day moving average of $15.96.
Enable Midstream Partners Company Profile
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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