Enable Midstream Partners, LP (ENBL) Declares $0.32 Quarterly Dividend
Enable Midstream Partners, LP (NYSE:ENBL) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Investors of record on Tuesday, November 14th will be given a dividend of 0.318 per share by the pipeline company on Tuesday, November 21st. This represents a $1.27 dividend on an annualized basis and a dividend yield of Infinity. The ex-dividend date is Monday, November 13th.
Enable Midstream Partners, has a dividend payout ratio of 147.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enable Midstream Partners, to earn $0.89 per share next year, which means the company may not be able to cover its $1.27 annual dividend with an expected future payout ratio of 142.7%.
Enable Midstream Partners, (NYSE:ENBL) last issued its earnings results on Wednesday, November 1st. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $705.00 million during the quarter, compared to analysts’ expectations of $688.61 million. Enable Midstream Partners, had a net margin of 14.82% and a return on equity of 5.23%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share.
In related news, Director Sean Trauschke acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was purchased at an average cost of $14.05 per share, with a total value of $35,125.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $70,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A hedge fund recently raised its stake in Enable Midstream Partners, stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Enable Midstream Partners, LP (NYSE:ENBL) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,714 shares of the pipeline company’s stock after buying an additional 497 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Enable Midstream Partners, were worth $107,000 at the end of the most recent quarter. 18.04% of the stock is currently owned by institutional investors.
ENBL has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Enable Midstream Partners, from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Monday, July 17th. BidaskClub cut shares of Enable Midstream Partners, from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $18.00 target price on shares of Enable Midstream Partners, in a report on Sunday, September 17th. Finally, Tudor Pickering cut shares of Enable Midstream Partners, from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Enable Midstream Partners, has a consensus rating of “Hold” and an average target price of $17.04.
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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