Enable Midstream Partners (ENBL) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Enable Midstream Partners (NYSE:ENBL) from a buy rating to a hold rating in a report released on Monday 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. “

ENBL has been the subject of several other research reports. Wells Fargo & Co lifted their target price on shares of Enable Midstream Partners from $16.00 to $18.00 and gave the stock a market perform rating in a report on Friday, August 10th. Stifel Nicolaus set a $19.00 target price on shares of Enable Midstream Partners and gave the stock a hold rating in a report on Sunday, August 5th. Bank of America reduced their target price on shares of Enable Midstream Partners from $20.00 to $18.00 and set a buy rating for the company in a report on Friday, October 26th. ValuEngine downgraded shares of Enable Midstream Partners from a buy rating to a hold rating in a report on Thursday, August 9th. Finally, Barclays lifted their target price on shares of Enable Midstream Partners from $17.00 to $18.00 and gave the stock a hold rating in a report on Wednesday, August 29th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Enable Midstream Partners currently has an average rating of Hold and a consensus target price of $18.44.

Shares of ENBL stock opened at $14.77 on Monday. The stock has a market cap of $6.47 billion, a P/E ratio of 16.05, a P/E/G ratio of 2.00 and a beta of 1.75. The company has a quick ratio of 0.31, a current ratio of 0.34 and a debt-to-equity ratio of 0.40. Enable Midstream Partners has a 52 week low of $12.89 and a 52 week high of $19.27.

Enable Midstream Partners (NYSE:ENBL) last announced its earnings results on Thursday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $772.28 million. Enable Midstream Partners had a return on equity of 5.91% and a net margin of 14.03%. The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. On average, research analysts forecast that Enable Midstream Partners will post 0.98 EPS for the current year.

Several hedge funds have recently made changes to their positions in ENBL. Wells Fargo & Company MN boosted its holdings in Enable Midstream Partners by 21.6% in the 1st quarter. Wells Fargo & Company MN now owns 30,536 shares of the pipeline company’s stock valued at $419,000 after purchasing an additional 5,434 shares during the period. The Manufacturers Life Insurance Company boosted its holdings 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 valued at $175,000 after purchasing an additional 5,661 shares during the period. Guggenheim Capital LLC boosted its holdings in Enable Midstream Partners by 13.6% in the 1st quarter. Guggenheim Capital LLC now owns 384,233 shares of the pipeline company’s stock valued at $5,271,000 after purchasing an additional 45,949 shares during the period. Spirit of America Management Corp NY boosted its holdings in Enable Midstream Partners by 5.1% in the 2nd quarter. Spirit of America Management Corp NY now owns 714,308 shares of the pipeline company’s stock valued at $12,222,000 after purchasing an additional 34,800 shares during the period. Finally, Bank of Montreal Can bought a new stake in Enable Midstream Partners in the 2nd quarter valued at about $170,000. 20.04% of the stock is 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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