State of New Jersey Common Pension Fund D lifted its holdings in Enable Midstream Partners LP (NYSE:ENBL) by 20.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 423,100 shares of the pipeline company’s stock after purchasing an additional 72,600 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Enable Midstream Partners were worth $5,805,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Clearbridge Investments LLC raised its stake in Enable Midstream Partners by 4.1% during the fourth quarter. Clearbridge Investments LLC now owns 5,498,797 shares of the pipeline company’s stock worth $78,193,000 after purchasing an additional 217,193 shares during the period. Goldman Sachs Group Inc. raised its stake in Enable Midstream Partners by 8.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,340,938 shares of the pipeline company’s stock worth $33,288,000 after purchasing an additional 187,104 shares during the period. Deutsche Bank AG raised its stake in Enable Midstream Partners by 1,139.7% during the fourth quarter. Deutsche Bank AG now owns 501,262 shares of the pipeline company’s stock worth $7,126,000 after purchasing an additional 460,827 shares during the period. Renaissance Technologies LLC purchased a new position in Enable Midstream Partners during the fourth quarter worth about $6,106,000. Finally, First Trust Advisors LP purchased a new position in Enable Midstream Partners during the fourth quarter worth about $6,058,000. 18.71% of the stock is currently owned by hedge funds and other institutional investors.
ENBL has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Enable Midstream Partners from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Tuesday, January 23rd. Royal Bank of Canada reaffirmed 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. UBS reaffirmed 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. Citigroup raised shares of Enable Midstream Partners from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, March 27th. Finally, Bank of America reduced their target price on shares of Enable Midstream Partners from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Enable Midstream Partners has an average rating of “Hold” and a consensus price target of $17.00.
In related news, Director William D. Rogers purchased 10,000 shares of Enable Midstream Partners stock in a transaction dated Monday, May 7th. The shares were acquired at an average cost of $14.36 per share, with a total value of $143,600.00. Following the purchase, the director now owns 2,000 shares of the company’s stock, valued at $28,720. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Enable Midstream Partners opened at $14.86 on Tuesday, Marketbeat.com reports. The company has a market capitalization of $6.53 billion, a PE ratio of 16.57, a P/E/G ratio of 2.39 and a beta of 1.80. Enable Midstream Partners LP has a 1 year low of $12.89 and a 1 year high of $16.49. The company has a current ratio of 0.29, a quick ratio of 0.27 and a debt-to-equity ratio of 0.36.
Enable Midstream Partners (NYSE:ENBL) last released its quarterly earnings results on Wednesday, May 2nd. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $748.00 million for the quarter, compared to the consensus estimate of $749.80 million. Enable Midstream Partners had a net margin of 14.59% and a return on equity of 5.76%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. research analysts forecast that Enable Midstream Partners LP will post 0.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Tuesday, May 22nd will be paid a $0.318 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.56%. The ex-dividend date is Monday, May 21st. Enable Midstream Partners’s dividend payout ratio (DPR) is 138.04%.
Enable Midstream Partners Company Profile
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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