Equities research analysts forecast that Enable Midstream Partners LP (NYSE:ENBL) will announce $0.29 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Enable Midstream Partners’ earnings. Enable Midstream Partners posted earnings of $0.30 per share in the same quarter last year, which would indicate a negative year over year growth rate of 3.3%. The firm is scheduled to issue its next earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Enable Midstream Partners will report full-year earnings of $1.05 per share for the current financial year, with EPS estimates ranging from $1.03 to $1.09. For the next year, analysts anticipate that the company will post earnings of $1.03 per share, with EPS estimates ranging from $0.98 to $1.11. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Enable Midstream Partners.
Enable Midstream Partners (NYSE:ENBL) last issued its earnings results on Tuesday, August 6th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $735.00 million for the quarter, compared to analyst estimates of $914.49 million. Enable Midstream Partners had a net margin of 16.37% and a return on equity of 7.73%. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS.
ENBL has been the topic of several recent research reports. BMO Capital Markets assumed coverage on shares of Enable Midstream Partners in a research note on Thursday, June 20th. They issued a “market perform” rating on the stock. Royal Bank of Canada set a $15.00 price objective on shares of Enable Midstream Partners and gave the stock a “hold” rating in a research note on Wednesday, August 7th. ValuEngine lowered shares of Enable Midstream Partners from a “hold” rating to a “sell” rating in a research note on Thursday, May 30th. Finally, Zacks Investment Research raised shares of Enable Midstream Partners from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $16.80.
In other news, Director Sean Trauschke acquired 2,500 shares of Enable Midstream Partners stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $12.26 per share, with a total value of $30,650.00. Following the purchase, the director now directly owns 7,500 shares of the company’s stock, valued at $91,950. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Institutional investors and hedge funds have recently made changes to their positions in the business. First Republic Investment Management Inc. lifted its stake in Enable Midstream Partners by 13.1% in the first quarter. First Republic Investment Management Inc. now owns 11,344 shares of the pipeline company’s stock valued at $162,000 after buying an additional 1,316 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in Enable Midstream Partners in the first quarter valued at approximately $14,320,000. Barings LLC bought a new position in Enable Midstream Partners in the first quarter valued at approximately $670,000. Cutter & CO Brokerage Inc. bought a new position in Enable Midstream Partners in the second quarter valued at approximately $2,152,000. Finally, JPMorgan Chase & Co. lifted its stake in Enable Midstream Partners by 47.8% in the first quarter. JPMorgan Chase & Co. now owns 1,380,951 shares of the pipeline company’s stock valued at $19,775,000 after buying an additional 446,483 shares in the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE ENBL traded up $0.39 during mid-day trading on Monday, hitting $12.76. The company’s stock had a trading volume of 1,330,523 shares, compared to its average volume of 627,013. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.30 and a quick ratio of 0.26. Enable Midstream Partners has a one year low of $11.78 and a one year high of $17.44. The company’s fifty day simple moving average is $12.69 and its 200-day simple moving average is $13.59.
The company also recently disclosed a dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were paid a dividend of $0.331 per share. The ex-dividend date of this dividend was Monday, August 19th. Enable Midstream Partners’s payout ratio is 118.92%.
Enable Midstream Partners Company Profile
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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