Zacks: Brokerages Anticipate Enable Midstream Partners LP (ENBL) Will Announce Earnings of $0.17 Per Share

Equities research analysts expect Enable Midstream Partners LP (NYSE:ENBL) to announce earnings per share of $0.17 for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Enable Midstream Partners’ earnings. The highest EPS estimate is $0.21 and the lowest is $0.13. Enable Midstream Partners posted earnings of $0.08 per share in the same quarter last year, which indicates a positive year over year growth rate of 112.5%. The firm is scheduled to report its next earnings results on Wednesday, August 2nd.

On average, analysts expect that Enable Midstream Partners will report full year earnings of $0.86 per share for the current year, with EPS estimates ranging from $0.82 to $0.89. For the next year, analysts anticipate that the business will report earnings of $0.91 per share, with EPS estimates ranging from $0.87 to $0.94. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Enable Midstream Partners.

Enable Midstream Partners (NYSE:ENBL) last posted its quarterly earnings data on Wednesday, May 3rd. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. Enable Midstream Partners had a return on equity of 6.01% and a net margin of 18.02%. The company had revenue of $666 million for the quarter, compared to the consensus estimate of $635.20 million. During the same period in the previous year, the business earned $0.19 EPS. Enable Midstream Partners’s revenue for the quarter was up 30.8% compared to the same quarter last year.

A number of analysts have commented on ENBL shares. Credit Suisse Group AG upgraded Enable Midstream Partners from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $18.00 to $20.00 in a research report on Monday, May 8th. Zacks Investment Research cut Enable Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday, February 23rd. Citigroup Inc reissued a “neutral” rating and issued a $16.25 target price (up from $14.00) on shares of Enable Midstream Partners in a report on Thursday, June 1st. TheStreet raised Enable Midstream Partners from a “c” rating to a “b-” rating in a report on Monday. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $18.00 target price on shares of Enable Midstream Partners in a report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $16.91.

Shares of Enable Midstream Partners (ENBL) traded down 0.53% during midday trading on Thursday, hitting $14.94. The stock had a trading volume of 88,541 shares. The firm has a 50-day moving average of $16.15 and a 200 day moving average of $16.13. The firm has a market cap of $6.46 billion, a PE ratio of 20.24 and a beta of 2.08. Enable Midstream Partners has a 12-month low of $11.95 and a 12-month high of $17.36.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Tuesday, May 23rd were issued a dividend of $0.318 per share. The ex-dividend date of this dividend was Friday, May 19th. This represents a $1.27 dividend on an annualized basis and a yield of 8.51%. Enable Midstream Partners’s dividend payout ratio is 186.77%.

In other news, major shareholder Arclight Capital Partners, Llc sold 51,935 shares of Enable Midstream Partners stock in a transaction on Monday, May 8th. The stock was sold at an average price of $16.37, for a total value of $850,175.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas L. Levescy sold 4,500 shares of Enable Midstream Partners stock in a transaction on Friday, March 17th. The shares were sold at an average price of $16.24, for a total value of $73,080.00. Following the completion of the sale, the insider now directly owns 15,422 shares of the company’s stock, valued at $250,453.28. The disclosure for this sale can be found here. Insiders have sold a total of 322,052 shares of company stock valued at $5,268,619 over the last ninety days.

Several large investors have recently added to or reduced their stakes in the stock. Heritage Trust Co bought a new position in Enable Midstream Partners during the first quarter valued at about $100,000. Koch Industries Inc. bought a new position in Enable Midstream Partners during the fourth quarter valued at about $172,000. Miller Howard Investments Inc. NY bought a new position in Enable Midstream Partners during the first quarter valued at about $180,000. Pointe Capital Management LLC bought a new position in Enable Midstream Partners during the first quarter valued at about $198,000. Finally, BNP Paribas Arbitrage SA bought a new position in Enable Midstream Partners during the first quarter valued at about $210,000. 16.62% of the stock is owned by institutional investors.

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Enable Midstream Partners Company Profile

Enable Midstream Partners LP owns, operates and develops midstream energy infrastructure assets strategically located to serve its customers. The Company operates in two business segments: Gathering and Processing, and Transportation and Storage. Its gathering and processing segment primarily provides natural gas and crude oil gathering and natural gas processing services to its producer customers.

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