JPMorgan Securities LLC (Investme.. 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 77.28% to 3.86 million shares with purchase of 1.68 million shares. This fresh investment now brings its stake to 0.89% valued currently at $17.93 million. In addition, Brookfield Public Securities Grou.. raised its holdings by 2.08 million to 2.09 million shares. And First Trust Advisors LP has lifted its position by 64.12% or 0.67 million shares – to 1.71 million shares.
With over 4.42 million Enable Midstream Partners LP (ENBL) shares trading Monday and a closing price of $5.62 on the day, the dollar volume was approximately $24.82 million. The shares have shown a negative weekly performance of -1.06% and its price on 08/31/20 lost nearly -5.07%. Currently, there are 437.00M common shares owned by the public and among those 88.86M 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: 9 analysts who have offered their price forecasts for ENBL have a consensus price objective of $6.13. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Enable Midstream Partners LP stock is 2.80 for the next 12 months. The average price target is 8.32% above its last price level and an upside to the estimated low will see the stock lose -40.5% over that period. But an upside of 29.75% will see the stock hit the forecast high price target while mean target price for the stock is $6.50.
Insiders at the company have transacted a total of 18 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 348,420 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, ClearBridge MLP and Midstream Fun, and Tortoise Midstream Energy Fund, I. Alerian MLP ETF owns 10.54 million shares of the company’s stock, all valued at over $49.03 million. The company sold 3512.0 shares recently to bring their total holdings to about 2.42% of the shares outstanding. Tortoise Midstream Energy Fund, I bought 0.18 million shares to bring its total holdings to over 2.37 million shares at a value of $11.04 million. Tortoise Midstream Energy Fund, I now owns shares totaling to 0.55% of the shares outstanding.
Shares of Enable Midstream Partners LP (NYSE: ENBL) opened at $5.90, down -$0.02 from a prior closing price of $5.92. However, the script later closed the day at $5.62, down -5.07%. The company’s stock has a 5-day price change of -1.06% and 31.00% over the past three months. ENBL shares are trading -43.97% year to date (YTD), with the 12-month market performance down to -55.40% lower. It has a 12-month low price of $1.61 and touched a high of $12.99 over the same period. Currently, 4.42 million shares have been traded, compared to an average intraday trading volume of 1.45 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 0.07%, 10.44%, and -10.16% respectively.
Institutional ownership of Enable Midstream Partners LP (NYSE: ENBL) shares accounts for 10.80% of the company’s 437.00M shares outstanding. Mutual fund holders own 6.09%, while other institutional holders and individual stakeholders account for 74.03% and 4.17% respectively.
It has a market capitalization of $2.40B and a beta (3y monthly) value of 2.67. The stock’s trailing 12-month PE ratio is 9.77, while the earnings-per-share (ttm) stands at $0.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.37% over the week and 6.64% over the month.
Analysts forecast that Enable Midstream Partners LP (ENBL) will achieve an EPS of $0.13 for the current quarter, $0.13 for the next quarter and $0.57 for 2021. The lowest estimate earnings-per-share for the quarter is $0.12 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was $0.28 a year ago. Earnings per share for the fiscal year are expected to decrease by -25.90%, and -1.21% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Enable Midstream Partners LP (ENBL) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 6 of the 9 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. Wolfe Research stated their Outperform rating for the stock in a research note on August 06, 2020, with the firm’s price target at. R. F. Lafferty coverage for the Enable Midstream Partners LP (ENBL) stock in a research note released on May 06, 2020 offered a Hold rating with a price target of $3. Wells Fargo was of a view on April 14, 2020 that the stock is Equal Weight, while Barclays gave the stock Underweight rating on March 24, 2020, issuing a price target of $2. UBS on their part issued Neutral rating on March 16, 2020.