Tortoise Capital Advisors L.L.C. Acquires Shares of 261,428 Enable Midstream Partners LP (NYSE:ENBL)
Tortoise Capital Advisors L.L.C. acquired a new stake in Enable Midstream Partners LP (NYSE:ENBL) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 261,428 shares of the pipeline company’s stock, valued at approximately $3,584,000. Tortoise Capital Advisors L.L.C. owned approximately 0.06% of Enable Midstream Partners at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Westwood Holdings Group Inc. raised its holdings in Enable Midstream Partners by 1.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 303,955 shares of the pipeline company’s stock valued at $4,167,000 after acquiring an additional 3,887 shares in the last quarter. Brookfield Asset Management Inc. raised its holdings in Enable Midstream Partners by 96.5% in the 2nd quarter. Brookfield Asset Management Inc. now owns 4,153,853 shares of the pipeline company’s stock valued at $56,949,000 after acquiring an additional 2,039,707 shares in the last quarter. Cohen & Steers Inc. raised its holdings in Enable Midstream Partners by 33.0% in the 2nd quarter. Cohen & Steers Inc. now owns 926,793 shares of the pipeline company’s stock valued at $12,706,000 after acquiring an additional 230,173 shares in the last quarter. Infrastructure Capital Advisors LLC raised its holdings in Enable Midstream Partners by 2.0% in the 2nd quarter. Infrastructure Capital Advisors LLC now owns 97,454 shares of the pipeline company’s stock valued at $1,355,000 after acquiring an additional 1,870 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in Enable Midstream Partners in the 2nd quarter valued at $150,000. 17.88% of the stock is owned by hedge funds and other institutional investors.
Shares of Enable Midstream Partners stock traded up $0.10 during trading on Friday, reaching $12.75. 1,382,460 shares of the company’s stock were exchanged, compared to its average volume of 918,809. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.26 and a current ratio of 0.30. Enable Midstream Partners LP has a 1-year low of $11.78 and a 1-year high of $17.44. The company has a market cap of $5.51 billion, a P/E ratio of 11.49, a PEG ratio of 3.36 and a beta of 1.25. The firm’s 50-day moving average price is $12.60 and its 200 day moving average price is $13.54.
The firm also recently declared a dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.331 per share. The ex-dividend date of this dividend was Monday, August 19th. Enable Midstream Partners’s dividend payout ratio (DPR) is currently 118.92%.
In other Enable Midstream Partners news, Director Sean Trauschke purchased 2,500 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $12.26 per share, with a total value of $30,650.00. Following the acquisition, the director now owns 7,500 shares of the company’s stock, valued at $91,950. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
ENBL has been the subject of several analyst reports. ValuEngine cut Enable Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. BMO Capital Markets initiated coverage on Enable Midstream Partners in a report on Thursday, June 20th. They issued a “market perform” rating for the company. Royal Bank of Canada set a $15.00 price objective on Enable Midstream Partners and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research raised Enable Midstream Partners from a “sell” rating to a “hold” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $16.80.
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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