Stocks: Enable Midstream Partners LP (ENBL) Major Shareholder Sells $850,175.95 in Stock

Stocks: Enable Midstream Partners LP (ENBL) Major Shareholder Sells $850,175.95 in Stock

Enable Midstream Partners LP (NYSE:ENBL) major shareholder Arclight Capital Partners, Llc sold 51,935 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $16.37, for a total transaction of $850,175.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Arclight Capital Partners, Llc also recently made the following trade(s):

Enable Midstream Partners LP (NYSE:ENBL) opened at 16.68 on Friday. The stock has a 50 day moving average of $16.46 and a 200 day moving average of $16.05. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 22.60 and a beta of 2.08. Enable Midstream Partners LP has a 52 week low of $11.95 and a 52 week high of $17.36.

Enable Midstream Partners (NYSE:ENBL) last announced its earnings results on Wednesday, May 3rd. The pipeline company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Enable Midstream Partners had a return on equity of 4.23% and a net margin of 13.31%. The business had revenue of $666 million for the quarter, compared to analysts’ expectations of $635.20 million. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue was up 30.8% on a year-over-year basis. Equities research analysts predict that Enable Midstream Partners LP will post $0.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Investors of record on Tuesday, May 23rd will be issued a $0.318 dividend. This represents a $1.27 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Friday, May 19th. Enable Midstream Partners’s payout ratio is presently 186.77%.

Hedge funds have recently made changes to their positions in the stock. Heritage Trust Co bought a new stake in shares of Enable Midstream Partners during the first quarter valued at approximately $100,000. Koch Industries Inc. bought a new stake in shares of Enable Midstream Partners during the fourth quarter valued at approximately $172,000. Miller Howard Investments Inc. NY bought a new stake in shares of Enable Midstream Partners during the first quarter valued at approximately $180,000. BNP Paribas Arbitrage SA bought a new stake in shares of Enable Midstream Partners during the first quarter valued at approximately $210,000. Finally, A.R.T. Advisors LLC bought a new stake in shares of Enable Midstream Partners during the fourth quarter valued at approximately $352,000. Institutional investors and hedge funds own 16.62% of the company’s stock.

Several equities research analysts have weighed in on the stock. Credit Suisse Group AG upgraded shares of Enable Midstream Partners from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $20.00 in a research report on Monday. Zacks Investment Research upgraded shares of Enable Midstream Partners from a “sell” rating to a “hold” rating in a research report on Friday, May 5th. Finally, Stifel Nicolaus assumed coverage on shares of Enable Midstream Partners in a research report on Wednesday, January 18th. They issued a “hold” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.63.

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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