JPMorgan Chase & Co. reduced its position in Enable Midstream Partners LP (NYSE:ENBL) by 49.9% in the third quarter, Holdings Channel reports. The institutional investor owned 796,766 shares of the pipeline company’s stock after selling 792,210 shares during the period. JPMorgan Chase & Co.’s holdings in Enable Midstream Partners were worth $13,418,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ENBL. Alps Advisors Inc. purchased a new position in Enable Midstream Partners in the 2nd quarter valued at about $124,377,000. Massachusetts Financial Services Co. MA purchased a new position in Enable Midstream Partners in the 3rd quarter valued at about $25,260,000. Wells Fargo & Company MN boosted its position in Enable Midstream Partners by 126.2% in the 3rd quarter. Wells Fargo & Company MN now owns 641,025 shares of the pipeline company’s stock valued at $10,795,000 after buying an additional 357,606 shares during the last quarter. Bank of Montreal Can boosted its position in Enable Midstream Partners by 1,521.0% in the 3rd quarter. Bank of Montreal Can now owns 160,640 shares of the pipeline company’s stock valued at $2,705,000 after buying an additional 150,730 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Enable Midstream Partners in the 3rd quarter valued at about $1,277,000. 19.47% of the stock is owned by institutional investors.
Shares of ENBL stock opened at $13.46 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. Enable Midstream Partners LP has a one year low of $12.89 and a one year high of $19.27. The stock has a market cap of $5.80 billion, a PE ratio of 13.79, a P/E/G ratio of 1.67 and a beta of 1.71.
Enable Midstream Partners (NYSE:ENBL) last issued its quarterly earnings results on Wednesday, November 7th. The pipeline company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. Enable Midstream Partners had a net margin of 13.84% and a return on equity of 6.28%. The business had revenue of $928.00 million for the quarter, compared to analysts’ expectations of $821.64 million. During the same quarter last year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. As a group, analysts anticipate that Enable Midstream Partners LP will post 0.99 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 29th. Stockholders of record on Friday, November 16th were given a dividend of $0.318 per share. The ex-dividend date was Thursday, November 15th. This represents a $1.27 annualized dividend and a dividend yield of 9.45%. Enable Midstream Partners’s payout ratio is 138.04%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Enable Midstream Partners from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. Bank of America decreased their price objective on shares of Enable Midstream Partners from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Barclays upped their price objective on shares of Enable Midstream Partners from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, August 29th. Finally, Wells Fargo & Co upped their price objective on shares of Enable Midstream Partners from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Friday, August 10th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.38.
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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