Enable Midstream Partners LP (ENBL) Lowered to Neutral at Credit Suisse Group AG
Credit Suisse Group AG lowered shares of Enable Midstream Partners LP (NYSE:ENBL) from an outperform rating to a neutral rating in a report released on Tuesday. The brokerage currently has $16.00 price target on the stock.
Several other brokerages have also issued reports on ENBL. TheStreet upgraded shares of Enable Midstream Partners from a sell rating to a hold rating in a research report on Monday, June 6th. Zacks Investment Research lowered shares of Enable Midstream Partners from a buy rating to a hold rating in a research report on Monday, July 18th. Barclays PLC lowered shares of Enable Midstream Partners from an equal weight rating to an underweight rating and lifted their target price for the company from $13.00 to $14.00 in a research report on Monday, June 20th. Citigroup Inc. lowered shares of Enable Midstream Partners from a buy rating to a neutral rating in a research report on Friday, June 17th. Finally, JPMorgan Chase & Co. upgraded shares of Enable Midstream Partners from a neutral rating to an overweight rating and set a $17.00 target price on the stock in a research report on Monday, May 23rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Enable Midstream Partners presently has an average rating of Hold and a consensus target price of $14.14.
Shares of Enable Midstream Partners (NYSE:ENBL) opened at 14.42 on Tuesday. The company has a 50-day moving average of $13.68 and a 200-day moving average of $12.10. The stock’s market capitalization is $6.09 billion. Enable Midstream Partners has a 52-week low of $5.38 and a 52-week high of $16.50.
Enable Midstream Partners (NYSE:ENBL) last announced its earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.10. The firm had revenue of $529 million for the quarter, compared to analyst estimates of $647.32 million. Equities research analysts anticipate that Enable Midstream Partners will post $0.67 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 16th were paid a dividend of $0.318 per share. This represents a $1.27 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date of this dividend was Friday, August 12th.
In other Enable Midstream Partners news, major shareholder Arclight Capital Partners, Llc sold 42,904 shares of Enable Midstream Partners stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $14.07, for a total transaction of $603,659.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC increased its stake in Enable Midstream Partners by 0.3% in the first quarter. Nuveen Asset Management LLC now owns 16,060 shares of the company’s stock worth $137,000 after buying an additional 49 shares during the period. Global X Management Co. LLC bought a new stake in Enable Midstream Partners during the second quarter worth about $173,000. State Street Corp increased its stake in Enable Midstream Partners by 3.9% in the first quarter. State Street Corp now owns 23,794 shares of the company’s stock worth $204,000 after buying an additional 890 shares during the period. Grassi Investment Management increased its stake in Enable Midstream Partners by 0.6% in the second quarter. Grassi Investment Management now owns 16,450 shares of the company’s stock worth $222,000 after buying an additional 100 shares during the period. Finally, A.R.T. Advisors LLC bought a new stake in Enable Midstream Partners during the first quarter worth about $231,000.
About Enable Midstream Partners
Enable Midstream Partners LP owns, operates and develops strategically located natural gas and crude oil infrastructure assets. The Company operates in two business segments: Gathering and Processing, and Transportation and Storage. It serves production areas in the United States, including several unconventional shale resource plays, and local and regional end user markets in the United States.
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