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.
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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