Enable Midstream Partners, LP (ENBL) Upgraded by Credit Suisse Group to Outperform
Credit Suisse Group upgraded shares of Enable Midstream Partners, LP (NYSE:ENBL) from a neutral rating to an outperform rating in a report published on Monday, May 15th, StockTargetPrices.com reports.
Other analysts also recently issued reports about the company. Zacks Investment Research raised Enable Midstream Partners, from a hold rating to a buy rating and set a $18.00 target price for the company in a research report on Tuesday, January 17th. Stifel Nicolaus assumed coverage on Enable Midstream Partners, in a research report on Wednesday, January 18th. They issued a hold rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Enable Midstream Partners, has a consensus rating of Hold and a consensus price target of $16.91.
Enable Midstream Partners, (NYSE:ENBL) traded up 3.26% during mid-day trading on Monday, reaching $14.87. The company had a trading volume of 159,216 shares. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 20.15 and a beta of 2.02. Enable Midstream Partners, has a 12-month low of $11.95 and a 12-month high of $17.36. The stock has a 50-day moving average of $15.84 and a 200 day moving average of $16.10.
Enable Midstream Partners, (NYSE:ENBL) last released its earnings results on Wednesday, May 3rd. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. Enable Midstream Partners, had a return on equity of 4.50% and a net margin of 13.71%. The business had revenue of $666 million during the quarter, compared to the consensus estimate of $635.20 million. During the same period last year, the business posted $0.19 earnings per share. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, analysts expect that Enable Midstream Partners, will post $0.84 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Tuesday, May 23rd were paid a dividend of $0.318 per share. This represents a $1.27 annualized dividend and a yield of 8.55%. The ex-dividend date was Friday, May 19th. Enable Midstream Partners,’s dividend payout ratio is 171.62%.
In related news, major shareholder Arclight Capital Partners, Llc sold 67,308 shares of Enable Midstream Partners, stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $16.23, for a total transaction of $1,092,408.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 317,552 shares of company stock valued at $5,195,539 in the last three months.
A number of large investors have recently modified their holdings of the company. First Mercantile Trust Co. purchased a new stake in shares of Enable Midstream Partners, during the first quarter valued at about $1,336,000. Hollencrest Securities LLC purchased a new stake in shares of Enable Midstream Partners, during the first quarter valued at about $995,000. Duff & Phelps Investment Management Co. raised its stake in shares of Enable Midstream Partners, by 100.0% in the first quarter. Duff & Phelps Investment Management Co. now owns 300,000 shares of the pipeline company’s stock valued at $5,007,000 after buying an additional 150,000 shares during the period. Brookfield Asset Management Inc. raised its stake in Enable Midstream Partners, by 9,694.7% in the fourth quarter. Brookfield Asset Management Inc. now owns 930,500 shares of the pipeline company’s stock worth $14,637,000 after buying an additional 921,000 shares during the period. Finally, Guggenheim Capital LLC raised its stake in Enable Midstream Partners, by 23.9% in the fourth quarter. Guggenheim Capital LLC now owns 90,108 shares of the pipeline company’s stock worth $1,417,000 after buying an additional 17,409 shares during the period. 18.23% of the stock is owned by hedge funds and other institutional investors.
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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