Enable Midstream Partners (ENBL) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Enable Midstream Partners (NYSE:ENBL) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $17.00 price objective on the pipeline company’s stock.

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. “

Separately, Bank of America decreased their price objective on Enable Midstream Partners from $20.00 to $18.00 and set a buy rating for the company in a report on Friday, October 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Enable Midstream Partners has a consensus rating of Hold and an average price target of $18.13.

NYSE:ENBL traded down $0.39 during trading hours on Tuesday, hitting $14.87. 2,476 shares of the company traded hands, compared to its average volume of 847,289. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. Enable Midstream Partners has a one year low of $12.31 and a one year high of $19.27. The stock has a market cap of $6.72 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.39.

Enable Midstream Partners (NYSE:ENBL) last issued its quarterly earnings data on Wednesday, November 7th. The pipeline company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. Enable Midstream Partners had a return on equity of 6.28% and a net margin of 13.84%. The business had revenue of $928.00 million for the quarter, compared to analysts’ expectations of $821.64 million. During the same period last year, the business earned $0.24 EPS. The business’s revenue was up 31.6% on a year-over-year basis. On average, sell-side analysts forecast that Enable Midstream Partners will post 0.99 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP grew its holdings in shares of Enable Midstream Partners by 5,033.0% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,053,200 shares of the pipeline company’s stock worth $34,575,000 after purchasing an additional 2,013,200 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Enable Midstream Partners during the third quarter worth about $25,260,000. Virtus Alternative Investment Advisers Inc. purchased a new position in shares of Enable Midstream Partners during the third quarter worth about $9,178,000. Deutsche Bank AG grew its holdings in shares of Enable Midstream Partners by 125.6% during the third quarter. Deutsche Bank AG now owns 932,669 shares of the pipeline company’s stock worth $15,704,000 after purchasing an additional 519,291 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in shares of Enable Midstream Partners by 6.5% during the third quarter. Alps Advisors Inc. now owns 7,738,598 shares of the pipeline company’s stock worth $130,318,000 after purchasing an additional 469,337 shares in the last quarter. 19.47% of the stock is owned by institutional investors and hedge funds.

About Enable Midstream Partners

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.

Featured Article: What is a back-end load?

Get a free copy of the Zacks research report on Enable Midstream Partners (ENBL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Enable Midstream Partners (NYSE:ENBL)

Receive News & Ratings for Enable Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enable Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply