Enable Midstream Partners, LP (NYSE:ENBL) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Stockholders of record on Tuesday, November 14th will be paid a dividend of 0.318 per share by the pipeline company on Tuesday, November 21st. This represents a $1.27 annualized dividend and a dividend yield of 8.21%. The ex-dividend date of this dividend is Monday, November 13th.
Enable Midstream Partners, has a payout ratio of 149.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Enable Midstream Partners, to earn $0.91 per share next year, which means the company may not be able to cover its $1.27 annual dividend with an expected future payout ratio of 139.6%.
Shares of Enable Midstream Partners, (NYSE ENBL) opened at $15.50 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.54 and a quick ratio of 0.49. Enable Midstream Partners, has a 12-month low of $13.75 and a 12-month high of $17.36. The stock has a market capitalization of $6,704.73, a price-to-earnings ratio of 18.45, a PEG ratio of 3.58 and a beta of 1.94.
Enable Midstream Partners, (NYSE:ENBL) last issued its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The business had revenue of $705.00 million for the quarter, compared to the consensus estimate of $688.61 million. Enable Midstream Partners, had a return on equity of 5.24% and a net margin of 14.82%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 earnings per share. sell-side analysts anticipate that Enable Midstream Partners, will post 0.87 EPS for the current fiscal year.
Several research firms recently commented on ENBL. BidaskClub upgraded Enable Midstream Partners, from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Royal Bank Of Canada restated a “hold” rating and set a $18.00 price target on shares of Enable Midstream Partners, in a research note on Sunday, September 17th. Zacks Investment Research upgraded Enable Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Tudor Pickering lowered Enable Midstream Partners, from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.45.
In other Enable Midstream Partners, news, Director Sean Trauschke purchased 2,500 shares of Enable Midstream Partners, stock in a transaction that occurred on Thursday, August 24th. The stock was purchased at an average price of $14.05 per share, with a total value of $35,125.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $70,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
A hedge fund recently raised its stake in Enable Midstream Partners, stock. The Manufacturers Life Insurance Company grew its position in shares of Enable Midstream Partners, LP (NYSE:ENBL) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,714 shares of the pipeline company’s stock after buying an additional 497 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Enable Midstream Partners, were worth $107,000 as of its most recent SEC filing. 18.12% of the stock is owned by institutional investors.
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About Enable Midstream Partners,
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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