Enable Midstream Partners LP (NYSE:ENBL) Shares Purchased by Russell Investments Group Ltd.
Russell Investments Group Ltd. boosted its position in Enable Midstream Partners LP (NYSE:ENBL) by 66.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 456,500 shares of the pipeline company’s stock after acquiring an additional 181,882 shares during the quarter. Russell Investments Group Ltd.’s holdings in Enable Midstream Partners were worth $6,259,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in Enable Midstream Partners by 3.2% in the second quarter. Van ECK Associates Corp now owns 50,672 shares of the pipeline company’s stock valued at $695,000 after acquiring an additional 1,595 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Enable Midstream Partners by 36.5% during the second quarter. Wells Fargo & Company MN now owns 846,118 shares of the pipeline company’s stock worth $11,600,000 after purchasing an additional 226,268 shares in the last quarter. Jennison Associates LLC acquired a new stake in Enable Midstream Partners during the second quarter worth approximately $8,336,000. Securian Asset Management Inc acquired a new stake in Enable Midstream Partners during the second quarter worth approximately $1,105,000. Finally, Duff & Phelps Investment Management Co. raised its holdings in Enable Midstream Partners by 8.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 540,000 shares of the pipeline company’s stock worth $7,403,000 after purchasing an additional 40,000 shares in the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on ENBL. BMO Capital Markets began coverage on shares of Enable Midstream Partners in a report on Thursday, June 20th. They set a “market perform” rating on the stock. ValuEngine cut shares of Enable Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. Zacks Investment Research raised shares of Enable Midstream Partners from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada set a $15.00 price objective on shares of Enable Midstream Partners and gave the stock a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $16.80.
ENBL stock traded up $0.24 during midday trading on Friday, reaching $12.20. 26,693 shares of the company were exchanged, compared to its average volume of 726,918. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.26 and a current ratio of 0.30. Enable Midstream Partners LP has a 1-year low of $11.78 and a 1-year high of $17.44. The stock’s 50-day simple moving average is $12.80 and its 200 day simple moving average is $13.64. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 3.23 and a beta of 1.25.
Enable Midstream Partners (NYSE:ENBL) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $735.00 million for the quarter, compared to analysts’ expectations of $914.49 million. Enable Midstream Partners had a net margin of 16.37% and a return on equity of 7.73%. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. On average, research analysts anticipate that Enable Midstream Partners LP will post 1.05 earnings per share for the current year.
The firm also recently announced a dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were issued a $0.331 dividend. The ex-dividend date was Monday, August 19th. Enable Midstream Partners’s payout ratio is 118.92%.
Enable Midstream Partners 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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