Enable Midstream Partners LP (ENBL) Expected to Post Earnings of $0.18 Per Share
Wall Street brokerages predict that Enable Midstream Partners LP (NYSE:ENBL) will announce earnings of $0.18 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Enable Midstream Partners’ earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.19. Enable Midstream Partners posted earnings per share of $0.19 during the same quarter last year, which indicates a negative year-over-year growth rate of 5.3%. The company is expected to report its next earnings report before the market opens on Wednesday, May 3rd.
According to Zacks, analysts expect that Enable Midstream Partners will report full-year earnings of $0.78 per share for the current year, with EPS estimates ranging from $0.75 to $0.81. For the next financial year, analysts anticipate that the firm will post earnings of $0.86 per share, with EPS estimates ranging from $0.80 to $0.94. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Enable Midstream Partners.
Enable Midstream Partners (NYSE:ENBL) last announced its quarterly earnings results on Tuesday, February 21st. The pipeline company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04. Enable Midstream Partners had a net margin of 13.31% and a return on equity of 4.23%. The firm had revenue of $614 million for the quarter, compared to the consensus estimate of $637.84 million. During the same period in the previous year, the company posted $0.15 earnings per share. Enable Midstream Partners’s quarterly revenue was up 8.5% on a year-over-year basis.
A number of research analysts recently commented on ENBL shares. Stifel Nicolaus started coverage on Enable Midstream Partners in a report on Wednesday, January 18th. They issued a “hold” rating and a $16.00 price objective on the stock. Wells Fargo & Co upgraded Enable Midstream Partners from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 11th. Zacks Investment Research cut Enable Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday, February 23rd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $15.00 price objective on shares of Enable Midstream Partners in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $16.13.
Shares of Enable Midstream Partners (NYSE:ENBL) traded up 0.49% during trading on Monday, reaching $16.43. The company had a trading volume of 90,071 shares. The company has a market capitalization of $7.10 billion, a PE ratio of 24.02 and a beta of 2.08. The stock’s 50-day moving average price is $16.37 and its 200-day moving average price is $15.96. Enable Midstream Partners has a 52 week low of $10.37 and a 52 week high of $17.36.
In other news, insider Thomas L. Levescy sold 4,500 shares of the company’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $16.24, for a total transaction of $73,080.00. Following the sale, the insider now owns 15,422 shares of the company’s stock, valued at $250,453.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Hedge funds have recently bought and sold shares of the company. Advisory Research Inc. raised its stake in Enable Midstream Partners by 19.8% in the fourth quarter. Advisory Research Inc. now owns 7,761,905 shares of the pipeline company’s stock worth $122,094,000 after buying an additional 1,280,250 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in Enable Midstream Partners by 9,694.7% in the fourth quarter. Brookfield Asset Management Inc. now owns 930,500 shares of the pipeline company’s stock worth $14,637,000 after buying an additional 921,000 shares in the last quarter. FMR LLC bought a new stake in Enable Midstream Partners during the fourth quarter worth $9,046,000. Allianz Asset Management AG bought a new stake in Enable Midstream Partners during the fourth quarter worth $5,053,000. Finally, Duff & Phelps Investment Management Co. raised its stake in Enable Midstream Partners by 100.0% in the first quarter. Duff & Phelps Investment Management Co. now owns 300,000 shares of the pipeline company’s stock worth $5,007,000 after buying an additional 150,000 shares in the last quarter. 16.62% of the stock is currently owned by institutional investors and hedge funds.
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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