Enable Midstream Partners LP [NYSE: ENBL] stock went on a downward path that fall over -1.18% on Wednesday, amounting to a one-week price decrease of less than -4.94%. The company report on June 3, 2021 that Enable Midstream Announces FERC Approval of the Gulf Run Pipeline Project.
Enable Midstream Partners, LP (NYSE: ENBL) announced that the Federal Energy Regulatory Commission (“FERC”) has granted approval to construct and operate the Gulf Run Pipeline project under section 7(c) of the Natural Gas Act. The project is designed to transport natural gas from some of the most prolific natural gas producing regions in the U.S., including the Haynesville, Marcellus, Utica and Barnett shales and the Mid-Continent region, to the U.S. Gulf Coast and is backed by a 20-year commitment for 1.1 billion cubic feet per day (Bcf/d) from cornerstone shipper Golden Pass LNG. The planned 42-inch pipeline provides for approximately 1.7 Bcf/d of capacity, allowing for upside potential beyond Golden Pass LNG’s commitment.
“We appreciate FERC’s thoughtful review of the project and all of the hard work from our best-in-class project team to reach this important milestone,” said Rod Sailor, president and CEO. “Gulf Run makes significant use of existing assets, reducing the project’s cost and environmental impact. With FERC approval and the demand for LNG increasing globally, the project is well-positioned to add new customer commitments.”.
Over the last 12 months, ENBL stock rose by 63.54%. The one-year Enable Midstream Partners LP stock forecast points to a potential downside of -36.08. The average equity rating for ENBL stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.06 billion, with 438.00 million shares outstanding and 88.91 million shares in the current float. Compared to the average trading volume of 1.08M shares, ENBL stock reached a trading volume of 1666496 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Enable Midstream Partners LP [ENBL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ENBL shares is $6.79 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ENBL stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Enable Midstream Partners LP shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on March 02, 2021. While these analysts kept the previous recommendation, Mizuho dropped their target price from $8 to $7. The new note on the price target was released on March 01, 2021, representing the official price target for Enable Midstream Partners LP stock. Previously, the target price had yet another raise to $3, while Morgan Stanley analysts kept a Underweight rating on ENBL stock.
The Average True Range (ATR) for Enable Midstream Partners LP is set at 0.28, with the Price to Sales ratio for ENBL stock in the period of the last 12 months amounting to 1.46. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 0.07. Price to Free Cash Flow for ENBL in the course of the last twelve months was 16.17 with Quick ratio for the last quarter at 0.30.
ENBL Stock Performance Analysis:
Enable Midstream Partners LP [ENBL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.94. With this latest performance, ENBL shares gained by 6.33% in over the last four-week period, additionally plugging by 70.17% over the last 6 months – not to mention a rise of 63.54% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENBL stock in for the last two-week period is set at 56.34, with the RSI for the last a single of trading hit 51.53, and the three-weeks RSI is set at 59.09 for Enable Midstream Partners LP [ENBL]. The present Moving Average for the last 50 days of trading for this stock 8.31, while it was recorded at 9.23 for the last single week of trading, and 6.24 for the last 200 days.
Insight into Enable Midstream Partners LP Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Enable Midstream Partners LP [ENBL] shares currently have an operating margin of +19.69 and a Gross Margin at +26.50. Enable Midstream Partners LP’s Net Margin is presently recorded at +3.59.
Return on Total Capital for ENBL is now 4.17, given the latest momentum, and Return on Invested Capital for the company is 0.79. Return on Equity for this stock inclined to 1.22, with Return on Assets sitting at 0.73. When it comes to the capital structure of this company, Enable Midstream Partners LP [ENBL] has a Total Debt to Total Equity ratio set at 59.82. Additionally, ENBL Total Debt to Total Capital is recorded at 37.43, with Total Debt to Total Assets ending up at 36.01. Long-Term Debt to Equity for the company is recorded at 59.27, with the Long-Term Debt to Total Capital now at 35.18.
Reflecting on the efficiency of the workforce at the company, Enable Midstream Partners LP [ENBL] managed to generate an average of $51,583 per employee. Receivables Turnover for the company is 8.06 with a Total Asset Turnover recorded at a value of 0.20.Enable Midstream Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.
ENBL Stock EPS
With the latest financial reports released by the company, Enable Midstream Partners LP posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -38.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ENBL.
Enable Midstream Partners LP [ENBL] Insider Position Details
There are presently around $480 million, or 11.90% of ENBL stock, in the hands of institutional investors. The top three institutional holders of ENBL stocks are: ALPS ADVISORS INC with ownership of 11,936,279, which is approximately 6.178% of the company’s market cap and around 0.40% of the total institutional ownership; CLEARBRIDGE INVESTMENTS, LLC, holding 6,613,173 shares of the stock with an approximate value of $61.11 million in ENBL stocks shares; and JPMORGAN CHASE & CO, currently with $30.54 million in ENBL stock with ownership of nearly 5.042% of the company’s market capitalization.
Positions in Enable Midstream Partners LP stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 51 institutional holders increased their position in Enable Midstream Partners LP [NYSE:ENBL] by around 10,546,228 shares. Additionally, 54 investors decreased positions by around 7,042,376 shares, while 22 investors held positions by with 34,329,779 shares. The mentioned changes placed institutional holdings at 51,918,383 shares, according to the latest SEC report filing. ENBL stock had 18 new institutional investments in for a total of 3,432,614 shares, while 20 institutional investors sold positions of 2,660,299 shares during the same period.