Zacks Investment Research Upgrades Enable Midstream Partners (ENBL) to Buy

Zacks Investment Research upgraded shares of Enable Midstream Partners (NYSE:ENBL) from a hold rating to a buy rating in a research note released on Wednesday. The firm currently has $19.00 price objective on the pipeline company’s stock.

According to Zacks, “Enable Midstream Partners, LP owns, operates and develops natural gas and crude oil infrastructure assets serving major producing basins and markets. It operates through two business segments: Gathering and Processing, and Transportation and Storage. The Gathering and Processing segment provides natural gas gathering, processing and fractionation services and crude oil gathering for its producer customers. The Transportation and Storage segment offers interstate and intrastate natural gas pipeline transportation and storage service to natural gas producers, utilities and industrial customers. Enable Midstream Partners, LP is based in Oklahoma City, Oklahoma. “

Several other brokerages have also recently weighed in on ENBL. Wells Fargo & Co boosted their price objective on Enable Midstream Partners from $16.00 to $18.00 and gave the stock a market perform rating in a report on Friday, August 10th. Stifel Nicolaus set a $19.00 price objective on Enable Midstream Partners and gave the stock a hold rating in a report on Sunday, August 5th. Barclays raised Enable Midstream Partners from an underweight rating to an equal weight rating and boosted their price objective for the stock from $14.00 to $17.00 in a report on Tuesday, June 12th. Finally, ValuEngine raised Enable Midstream Partners from a hold rating to a buy rating in a report on Thursday, June 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $18.33.

NYSE ENBL traded down $0.10 on Wednesday, hitting $16.36. 540,962 shares of the company were exchanged, compared to its average volume of 552,083. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 2.29 and a beta of 1.75. The company has a quick ratio of 0.31, a current ratio of 0.34 and a debt-to-equity ratio of 0.40. Enable Midstream Partners has a 1-year low of $12.89 and a 1-year high of $19.27.

Enable Midstream Partners (NYSE:ENBL) last issued its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.02). The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $772.28 million. Enable Midstream Partners had a return on equity of 5.91% and a net margin of 14.03%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. On average, equities analysts expect that Enable Midstream Partners will post 0.99 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Archford Capital Strategies LLC increased its stake in shares of Enable Midstream Partners by 101.3% in the 2nd quarter. Archford Capital Strategies LLC now owns 7,857 shares of the pipeline company’s stock valued at $134,000 after acquiring an additional 3,954 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Enable Midstream Partners in the 2nd quarter valued at about $170,000. First Allied Advisory Services Inc. bought a new stake in shares of Enable Midstream Partners in the 2nd quarter valued at about $201,000. The Manufacturers Life Insurance Company increased its stake in shares of Enable Midstream Partners by 79.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,752 shares of the pipeline company’s stock valued at $175,000 after acquiring an additional 5,661 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Enable Midstream Partners in the 2nd quarter valued at about $268,000. 19.99% of the stock is owned by institutional investors.

About Enable Midstream Partners

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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