Enable Midstream Partners, LP (NYSE:ENBL) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Enable Midstream Partners, LP (NYSE:ENBL) from a hold rating to a buy rating in a report issued on Monday, July 17th. Zacks Investment Research currently has $18.00 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. “

ENBL has been the subject of several other reports. Citigroup Inc. reiterated a neutral rating and issued a $16.25 price objective (up from $14.00) on shares of Enable Midstream Partners, in a research report on Thursday, June 1st. TheStreet upgraded Enable Midstream Partners, from a c rating to a b- rating in a research report on Monday, June 5th. Royal Bank Of Canada reaffirmed a hold rating and set a $18.00 price target on shares of Enable Midstream Partners, in a research report on Tuesday, June 6th. Credit Suisse Group raised Enable Midstream Partners, from a neutral rating to an outperform rating in a research report on Monday, May 15th. Finally, BidaskClub raised Enable Midstream Partners, from a sell rating to a hold rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $16.91.

Shares of Enable Midstream Partners, (ENBL) opened at 14.76 on Monday. The firm has a market capitalization of $6.38 billion, a PE ratio of 17.51 and a beta of 1.98. Enable Midstream Partners, has a 12-month low of $12.70 and a 12-month high of $17.36. The company’s 50 day moving average is $15.29 and its 200 day moving average is $15.93.

Enable Midstream Partners, (NYSE:ENBL) last issued its quarterly earnings data on Tuesday, August 1st. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Enable Midstream Partners, had a return on equity of 5.19% and a net margin of 15.20%. The business had revenue of $626 million during the quarter, compared to analyst estimates of $644.27 million. Enable Midstream Partners,’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts forecast that Enable Midstream Partners, will post $0.85 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 22nd will be paid a $0.318 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 8.62%. The ex-dividend date of this dividend is Friday, August 18th. Enable Midstream Partners,’s dividend payout ratio (DPR) is presently 147.68%.

In related news, major shareholder Arclight Capital Partners, Llc sold 22,575 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $16.13, for a total value of $364,134.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 157,258 shares of company stock worth $2,549,596.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Enable Midstream Partners, by 8.4% in the first quarter. JPMorgan Chase & Co. now owns 2,004,167 shares of the pipeline company’s stock valued at $33,450,000 after buying an additional 155,300 shares during the last quarter. Center Coast Capital Advisors LP raised its stake in Enable Midstream Partners, by 3.1% in the second quarter. Center Coast Capital Advisors LP now owns 1,915,543 shares of the pipeline company’s stock valued at $30,534,000 after buying an additional 57,336 shares during the period. Goldman Sachs Group Inc. raised its stake in Enable Midstream Partners, by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,677,492 shares of the pipeline company’s stock valued at $27,997,000 after buying an additional 423,558 shares during the period. Brookfield Asset Management Inc. raised its stake in Enable Midstream Partners, by 0.3% in the first quarter. Brookfield Asset Management Inc. now owns 933,600 shares of the pipeline company’s stock valued at $15,582,000 after buying an additional 3,100 shares during the period. Finally, Bank of America Corp DE raised its stake in Enable Midstream Partners, by 1,181.3% in the first quarter. Bank of America Corp DE now owns 874,024 shares of the pipeline company’s stock valued at $14,587,000 after buying an additional 805,809 shares during the period. Hedge funds and other institutional investors own 18.31% of the company’s stock.

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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