ValuEngine Downgrades Enable Midstream Partners (ENBL) to Sell

ValuEngine cut shares of Enable Midstream Partners (NYSE:ENBL) from a hold rating to a sell rating in a report issued on Tuesday.

A number of other analysts have also weighed in on ENBL. Zacks Investment Research upgraded shares of Enable Midstream Partners from a hold rating to a buy rating and set a $17.00 price objective for the company in a research note on Tuesday, January 23rd. Royal Bank of Canada restated a sector perform rating and set a $18.00 price objective on shares of Enable Midstream Partners in a research note on Wednesday, February 21st. UBS restated a buy rating and set a $20.00 price objective (up from $19.00) on shares of Enable Midstream Partners in a research note on Wednesday, February 21st. Citigroup upgraded shares of Enable Midstream Partners from a neutral rating to a buy rating and set a $16.00 price objective for the company in a research note on Tuesday, March 27th. Finally, Bank of America reduced their price objective on shares of Enable Midstream Partners from $19.00 to $17.00 and set a buy rating for the company in a research note on Tuesday, March 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $17.00.

Shares of Enable Midstream Partners stock opened at $15.45 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.27. The stock has a market capitalization of $6.69 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 2.44 and a beta of 1.80. Enable Midstream Partners has a 1 year low of $12.89 and a 1 year high of $16.38.

Enable Midstream Partners (NYSE:ENBL) last released its quarterly earnings data on Wednesday, May 2nd. The pipeline company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $748.00 million during the quarter, compared to analyst estimates of $749.80 million. Enable Midstream Partners had a net margin of 14.59% and a return on equity of 5.76%. Enable Midstream Partners’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.26 EPS. equities research analysts expect that Enable Midstream Partners will post 1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Tuesday, May 22nd will be issued a dividend of $0.318 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.23%. The ex-dividend date is Monday, May 21st. Enable Midstream Partners’s payout ratio is presently 138.04%.

In related news, Director William D. Rogers purchased 10,000 shares of the company’s stock in a transaction dated Monday, May 7th. The shares were purchased at an average price of $14.36 per share, with a total value of $143,600.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $28,720. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Hedge funds and other institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Enable Midstream Partners during the 4th quarter valued at about $117,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Enable Midstream Partners by 79.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,752 shares of the pipeline company’s stock valued at $175,000 after acquiring an additional 5,661 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Enable Midstream Partners during the 4th quarter valued at about $195,000. California Public Employees Retirement System purchased a new stake in shares of Enable Midstream Partners during the 3rd quarter valued at about $261,000. Finally, Virtu Financial LLC purchased a new stake in shares of Enable Midstream Partners during the 4th quarter valued at about $299,000. 18.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Enable Midstream Partners (NYSE:ENBL)

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