Enable Midstream Partners, LP (NYSE:ENBL) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Enable Midstream Partners, LP (NYSE:ENBL) from a buy rating to a sell rating in a research note released on Tuesday morning.

According to Zacks, “Enable Midstream Partners, LP owns, operates and develops natural gas and crude oil infrastructure assets serving major producing basins and markets. It operates through two business segments: Gathering and Processing, and Transportation and Storage. The Gathering and Processing segment provides natural gas gathering, processing and fractionation services and crude oil gathering for its producer customers. The Transportation and Storage segment offers interstate and intrastate natural gas pipeline transportation and storage service to natural gas producers, utilities and industrial customers. Enable Midstream Partners, LP is based in Oklahoma City, Oklahoma. “

Several other equities analysts have also issued reports on the stock. Credit Suisse Group raised shares of Enable Midstream Partners, from a neutral rating to an outperform rating in a report on Monday, May 15th. Citigroup Inc. reiterated a neutral rating and set a $16.25 price objective (up from $14.00) on shares of Enable Midstream Partners, in a research note on Thursday, June 1st. BidaskClub upgraded shares of Enable Midstream Partners, from a strong sell rating to a sell rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reiterated a hold rating and set a $18.00 price objective on shares of Enable Midstream Partners, in a research note on Tuesday, June 6th. Finally, TheStreet upgraded shares of Enable Midstream Partners, from a c rating to a b- rating in a research note on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $16.91.

Shares of Enable Midstream Partners, (ENBL) traded down 2.03% during mid-day trading on Tuesday, hitting $14.99. The stock had a trading volume of 64,767 shares. The stock has a market cap of $6.48 billion, a P/E ratio of 20.31 and a beta of 2.02. Enable Midstream Partners, has a 52-week low of $11.95 and a 52-week high of $17.36. The company’s 50 day moving average is $15.23 and its 200-day moving average is $16.05.

Enable Midstream Partners, (NYSE:ENBL) last released its quarterly earnings results on Wednesday, May 3rd. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Enable Midstream Partners, had a net margin of 13.71% and a return on equity of 4.50%. The business had revenue of $666 million for the quarter, compared to analyst estimates of $635.20 million. During the same period in the previous year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, equities research analysts anticipate that Enable Midstream Partners, will post $0.83 earnings per share for the current fiscal year.

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In related news, major shareholder Arclight Capital Partners, Llc sold 21,845 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $16.77, for a total transaction of $366,340.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 347,153 shares of company stock valued at $5,669,206 over the last 90 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its position in Enable Midstream Partners, by 0.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 44,480 shares of the pipeline company’s stock worth $742,000 after buying an additional 300 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Enable Midstream Partners, by 7.1% in the first quarter. Parkside Financial Bank & Trust now owns 27,805 shares of the pipeline company’s stock worth $464,000 after buying an additional 1,855 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its position in Enable Midstream Partners, by 1.7% in the first quarter. Cutter & CO Brokerage Inc. now owns 139,910 shares of the pipeline company’s stock worth $2,335,000 after buying an additional 2,365 shares during the last quarter. Brookfield Asset Management Inc. boosted its position in Enable Midstream Partners, by 0.3% in the first quarter. Brookfield Asset Management Inc. now owns 933,600 shares of the pipeline company’s stock worth $15,582,000 after buying an additional 3,100 shares during the last quarter. Finally, Heritage Trust Co purchased a new position in Enable Midstream Partners, during the first quarter worth $100,000. 18.28% of the stock is owned by institutional investors.

Enable Midstream Partners, Company Profile

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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Analyst Recommendations for Enable Midstream Partners, (NYSE:ENBL)

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