Enable Midstream Partners (NYSE:ENBL) Trading 7.7% Higher

Enable Midstream Partners LP (NYSE:ENBL) shares traded up 7.7% during trading on Thursday . The stock traded as high as $4.49 and last traded at $4.46. 1,257,410 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 1,929,966 shares. The stock had previously closed at $4.14.

Several research analysts recently weighed in on ENBL shares. Wolfe Research upgraded Enable Midstream Partners from a “peer perform” rating to an “outperform” rating in a research note on Thursday, August 6th. ValuEngine downgraded Enable Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 1st. Morgan Stanley started coverage on Enable Midstream Partners in a research note on Friday, September 25th. They set an “underweight” rating and a $3.00 target price on the stock. Finally, Zacks Investment Research downgraded Enable Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.17.

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.29. The company has a 50 day simple moving average of $5.02 and a two-hundred day simple moving average of $4.38. The firm has a market cap of $1.94 billion, a PE ratio of 7.75 and a beta of 2.64.

Enable Midstream Partners (NYSE:ENBL) last posted its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The business had revenue of $515.00 million for the quarter, compared to the consensus estimate of $708.94 million. Enable Midstream Partners had a return on equity of 5.91% and a net margin of 11.80%. The company’s quarterly revenue was down 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 EPS. As a group, research analysts predict that Enable Midstream Partners LP will post 0.54 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vident Investment Advisory LLC boosted its stake in shares of Enable Midstream Partners by 10.9% in the second quarter. Vident Investment Advisory LLC now owns 32,991 shares of the pipeline company’s stock worth $154,000 after buying an additional 3,238 shares during the last quarter. FDx Advisors Inc. purchased a new stake in shares of Enable Midstream Partners in the first quarter worth about $301,000. Cannell Peter B & Co. Inc. boosted its stake in shares of Enable Midstream Partners by 14.2% in the second quarter. Cannell Peter B & Co. Inc. now owns 78,600 shares of the pipeline company’s stock worth $368,000 after buying an additional 9,800 shares during the last quarter. Brookstone Capital Management purchased a new stake in shares of Enable Midstream Partners in the second quarter worth about $54,000. Finally, EJF Capital LLC purchased a new stake in shares of Enable Midstream Partners in the first quarter worth about $32,000. Hedge funds and other institutional investors own 10.61% of the company’s stock.

About Enable Midstream Partners (NYSE:ENBL)

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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