Zacks Investment Research upgraded shares of Enable Midstream Partners (NYSE:ENBL) from a hold rating to a buy rating in a research report report published on Wednesday, May 9th. Zacks Investment Research currently has $16.00 target price 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. “
A number of other brokerages have also weighed in on ENBL. Bank of America initiated coverage on shares of Enable Midstream Partners in a report on Tuesday, January 9th. They issued a buy rating for the company. UBS reiterated a buy rating and set a $20.00 target price (up from $19.00) on shares of Enable Midstream Partners in a research note on Wednesday, February 21st. Royal Bank of Canada reiterated a sector perform rating and set a $18.00 target price on shares of Enable Midstream Partners in a research note on Wednesday, February 21st. Barclays decreased their target price on shares of Enable Midstream Partners from $15.00 to $14.00 and set an underweight rating for the company in a research note on Tuesday, April 17th. Finally, Citigroup upgraded shares of Enable Midstream Partners from a neutral rating to a buy rating and set a $16.00 target price for the company in a research note on Tuesday, March 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $17.00.
Enable Midstream Partners (NYSE:ENBL) last announced its quarterly earnings data on Wednesday, May 2nd. The pipeline company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Enable Midstream Partners had a net margin of 14.59% and a return on equity of 5.76%. The company had revenue of $748.00 million during the quarter, compared to analyst estimates of $749.80 million. During the same period in the previous year, the business earned $0.26 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. sell-side analysts expect that Enable Midstream Partners will post 0.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Tuesday, May 22nd will be given a dividend of $0.318 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.32%. The ex-dividend date is Monday, May 21st. Enable Midstream Partners’s payout ratio is 138.04%.
In other Enable Midstream Partners news, Director William D. Rogers acquired 10,000 shares of the business’s stock in a transaction dated Monday, May 7th. The stock was purchased at an average price of $14.36 per share, with a total value of $143,600.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $28,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Several hedge funds have recently modified their holdings of ENBL. SeaCrest Wealth Management LLC bought a new stake in shares of Enable Midstream Partners during the 4th quarter valued at $117,000. Starfire Investment Advisers Inc. bought a new stake in shares of Enable Midstream Partners during the 4th quarter valued at $145,000. The Manufacturers Life Insurance Company grew its position 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 period. Koch Industries Inc. bought a new stake in shares of Enable Midstream Partners during the 4th quarter valued at $195,000. Finally, California Public Employees Retirement System bought a new stake in shares of Enable Midstream Partners during the 3rd quarter valued at $261,000. 18.23% of the stock is 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.
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