Enable Midstream Partners, LP (NYSE:ENBL) Sees Significant Growth in Short Interest

Enable Midstream Partners, LP (NYSE:ENBL) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,180,000 shares, an increase of 30.9% from the August 15th total of 2,430,000 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average daily trading volume, of 956,000 shares, the days-to-cover ratio is currently 3.3 days.

ENBL stock traded down $0.33 during midday trading on Monday, reaching $7.37. The stock had a trading volume of 16,649 shares, compared to its average volume of 1,154,511. The stock has a market cap of $3.21 billion, a PE ratio of 25.67 and a beta of 2.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.33 and a current ratio of 0.36. The firm has a fifty day simple moving average of $8.11 and a two-hundred day simple moving average of $8.00. Enable Midstream Partners has a 52-week low of $3.94 and a 52-week high of $9.91.

Enable Midstream Partners (NYSE:ENBL) last issued its quarterly earnings results on Wednesday, August 4th. The pipeline company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.05. Enable Midstream Partners had a net margin of 5.99% and a return on equity of 6.02%. The company had revenue of $787.00 million for the quarter. On average, sell-side analysts predict that Enable Midstream Partners will post 0.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 24th. Shareholders of record on Thursday, August 12th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 8.96%. The ex-dividend date of this dividend was Wednesday, August 11th. Enable Midstream Partners’s payout ratio is 95.65%.

Separately, Zacks Investment Research cut shares of Enable Midstream Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, June 2nd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.65.

A number of large investors have recently bought and sold shares of ENBL. Wagner Wealth Management LLC acquired a new position in Enable Midstream Partners in the second quarter valued at approximately $34,000. Telemetry Investments L.L.C. purchased a new position in Enable Midstream Partners in the second quarter valued at $97,000. Clear Street Markets LLC purchased a new position in Enable Midstream Partners in the second quarter valued at $99,000. XTX Topco Ltd purchased a new position in Enable Midstream Partners in the first quarter valued at $73,000. Finally, Brookstone Capital Management purchased a new position in Enable Midstream Partners in the second quarter valued at $101,000. 11.78% of the stock is currently owned by institutional investors.

About Enable Midstream Partners

Enable Midstream Partners LP owns, operates and develops natural gas and crude oil infrastructure assets. It operates through the following segments: Gathering & Processing, and Transportation & Storage. The Gathering and Processing segment provides natural gas gathering, processing, and fractionation services, as well as crude oil gathering services for its producer customers.

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