Enable Midstream Partners (ENBL) Announces Earnings Results, Beats Estimates By $0.03 EPS

Enable Midstream Partners (NYSE:ENBL) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.03, MarketWatch Earnings reports. The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $821.64 million. Enable Midstream Partners had a net margin of 14.03% and a return on equity of 5.91%. Enable Midstream Partners’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period last year, the company posted $0.24 EPS.

Shares of NYSE ENBL traded up $0.11 during midday trading on Wednesday, reaching $15.05. 326,280 shares of the stock were exchanged, compared to its average volume of 416,674. The company has a market capitalization of $6.49 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.01 and a beta of 1.74. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.34 and a quick ratio of 0.31. Enable Midstream Partners has a twelve month low of $12.89 and a twelve month high of $19.27.

A number of research analysts have weighed in on the stock. Stifel Nicolaus set a $19.00 target price on shares of Enable Midstream Partners and gave the stock a “hold” rating in a research note on Sunday, August 5th. ValuEngine raised shares of Enable Midstream Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised shares of Enable Midstream Partners from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 17th. Wells Fargo & Co raised their target price on shares of Enable Midstream Partners from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Friday, August 10th. Finally, Barclays raised their target price on shares of Enable Midstream Partners from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.44.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Archford Capital Strategies LLC increased its holdings in shares of Enable Midstream Partners by 101.3% during the 2nd quarter. Archford Capital Strategies LLC now owns 7,857 shares of the pipeline company’s stock worth $134,000 after buying an additional 3,954 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Enable Midstream Partners by 21.6% during the 1st quarter. Wells Fargo & Company MN now owns 30,536 shares of the pipeline company’s stock worth $419,000 after buying an additional 5,434 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Enable Midstream Partners by 79.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,752 shares of the pipeline company’s stock worth $175,000 after buying an additional 5,661 shares during the last quarter. Conning Inc. increased its holdings in shares of Enable Midstream Partners by 5.7% during the 2nd quarter. Conning Inc. now owns 134,766 shares of the pipeline company’s stock worth $2,306,000 after buying an additional 7,324 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Enable Midstream Partners during the 2nd quarter worth approximately $170,000. Institutional investors and hedge funds own 20.49% of the company’s stock.

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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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Earnings History for Enable Midstream Partners (NYSE:ENBL)

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