Handle With Care: Enable Midstream Partners LP (NYSE: ENBL)

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    ALPS Advisors, Inc. recently announced the acquisition of new stake in Enable Midstream Partners LP (NYSE:ENBL). The institutional investor has increased its shareholding in the Energy company by 6.01% to 11.36 million shares with purchase of 0.64 million shares. This fresh investment now brings its stake to 2.61% valued currently at $53.17 million. In addition, Global X Management Co. LLC raised its holdings by 1.74 million to 4.59 million shares. And Cushing Asset Management LP has lifted its position by 73.66% or 1.49 million shares – to 3.5 million shares.

    With over 0.54 million Enable Midstream Partners LP (ENBL) shares trading Tuesday and a closing price of $4.68 on the day, the dollar volume was approximately $2.54 million. The shares have shown a negative weekly performance of -1.68% and its price on 07/28/20 gained nearly 1.96%. Currently, there are 437.00M common shares owned by the public and among those 88.84M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for ENBL have a consensus price objective of $6.11. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $3.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Enable Midstream Partners LP stock is 3.00 for the next 12 months. The average price target is 22.0% above its last price level and an upside to the estimated low will see the stock lose -56.0% over that period. But an upside of 41.5% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.

    Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 358,420 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 24,086 shares.

    The top 3 mutual fund holders in Enable Midstream Partners LP are Alerian MLP ETF, Tortoise Energy Infrastructure Co, and ClearBridge Energy MLP Fund Inc. Alerian MLP ETF owns 10.66 million shares of the company’s stock, all valued at over $49.87 million. Tortoise Energy Infrastructure Co bought 0.82 million shares to see its total holdings expand to 2.84 million shares valued at over $13.29 million and representing 0.65% of the shares outstanding. ClearBridge Energy MLP Fund Inc. now owns shares totaling to 0.62% of the shares outstanding.

    Shares of Enable Midstream Partners LP (NYSE: ENBL) opened at $4.52, down -$0.07 from a prior closing price of $4.59. However, the script later closed the day at $4.68, up 1.96%. The company’s stock has a 5-day price change of -1.68% and 22.83% over the past three months. ENBL shares are trading -53.34% year to date (YTD), with the 12-month market performance down to -66.36% lower. It has a 12-month low price of $1.61 and touched a high of $14.11 over the same period. Currently, 0.54 million shares have been traded, compared to an average intraday trading volume of 1.75 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.46%, -3.32%, and -31.72% respectively.

    Institutional ownership of Enable Midstream Partners LP (NYSE: ENBL) shares accounts for 12.50% of the company’s 437.00M shares outstanding. Mutual fund holders own 74.03%, while other institutional holders and individual stakeholders account for 8.09% and 3.66% respectively.

    It has a market capitalization of $2.06B and a beta (3y monthly) value of 2.55. The stock’s trailing 12-month PE ratio is 6.31, while the earnings-per-share (ttm) stands at $0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.07% over the week and 6.37% over the month.

    Analysts forecast that Enable Midstream Partners LP (ENBL) will achieve an EPS of $0.13 for the current quarter, $0.15 for the next quarter and $0.57 for 2021. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.29. Comparatively, EPS for the current quarter was $0.26 a year ago. Earnings per share for the fiscal year are expected to decrease by -25.90%, and 9.36% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Enable Midstream Partners LP (ENBL) as a “Hold” at a consensus score of 3.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 8 of the 10 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the ENBL, a number of firms have released research notes about the stock. R. F. Lafferty stated their Hold rating for the stock in a research note on May 06, 2020, with the firm’s price target at $3. Wells Fargo coverage for the Enable Midstream Partners LP (ENBL) stock in a research note released on April 14, 2020 offered a Equal Weight rating with a price target of $6. Barclays was of a view on March 24, 2020 that the stock is Underweight, while UBS gave the stock Neutral rating on March 16, 2020, issuing a price target of $9- $3. Wells Fargo on their part issued Overweight rating on January 07, 2020.

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