Dividend Assets Capital LLC Reduces Stake in Enable Midstream Partners, LP (NYSE:ENBL)
Dividend Assets Capital LLC cut its position in Enable Midstream Partners, LP (NYSE:ENBL) by 6.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,426,894 shares of the pipeline company’s stock after selling 104,838 shares during the period. Dividend Assets Capital LLC’s holdings in Enable Midstream Partners, were worth $22,745,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Enable Midstream Partners, during the fourth quarter worth approximately $1,512,000. Duff & Phelps Investment Management Co. boosted its stake in Enable Midstream Partners, by 100.0% in the first quarter. Duff & Phelps Investment Management Co. now owns 300,000 shares of the pipeline company’s stock worth $5,007,000 after buying an additional 150,000 shares during the period. Hollencrest Securities LLC bought a new stake in Enable Midstream Partners, during the first quarter worth approximately $995,000. First Mercantile Trust Co. bought a new stake in Enable Midstream Partners, during the first quarter worth approximately $1,336,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in Enable Midstream Partners, during the first quarter worth approximately $2,393,000. 18.31% of the stock is currently owned by institutional investors.
Enable Midstream Partners, LP (NYSE ENBL) opened at 14.76 on Friday. The stock’s 50 day moving average is $15.29 and its 200-day moving average is $15.93. Enable Midstream Partners, LP has a 52-week low of $12.70 and a 52-week high of $17.36. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 17.51 and a beta of 1.98.
Enable Midstream Partners, (NYSE:ENBL) last released its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Enable Midstream Partners, had a net margin of 15.20% and a return on equity of 5.19%. The business had revenue of $626 million for the quarter, compared to the consensus estimate of $644.27 million. The firm’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts anticipate that Enable Midstream Partners, LP will post $0.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 22nd will be paid a $0.318 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.62%. Enable Midstream Partners,’s dividend payout ratio (DPR) is presently 147.68%.
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ENBL has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Enable Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Credit Suisse Group upgraded shares of Enable Midstream Partners, from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $18.00 to $20.00 in a research note on Monday, May 8th. Citigroup Inc. reiterated a “neutral” rating and issued a $16.25 price objective (up from $14.00) on shares of Enable Midstream Partners, in a research note on Thursday, June 1st. Royal Bank Of Canada reiterated a “hold” rating and issued 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Enable Midstream Partners, has an average rating of “Hold” and an average price target of $16.91.
In other news, major shareholder Arclight Capital Partners, Llc sold 4,000 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $16.00, for a total value of $64,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 157,258 shares of company stock valued at $2,549,596.
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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