Enable Midstream Receives a Sell from Barclays

By Austin Angelo

Barclays analyst Richard Gross reiterated a Sell rating on Enable Midstream (NYSE: ENBL) on November 4 and set a price target of $15. The company’s shares opened today at $14.63.

Gross said:

“We are adjusting our full year EBITDA to $844 mm closer to high end and 1.1x coverage.”

According to TipRanks.com, Gross is a 4-star analyst with an average return of 2.6% and a 55.2% success rate. Gross covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Calumet Specialty Products, and Holly Energy Partners L.P.

Enable Midstream has an analyst consensus of Moderate Sell, with a price target consensus of $15.

Based on Enable Midstream’s latest earnings report from June 30, the company posted quarterly revenue of $529M and quarterly net profit of $35M. In comparison, last year the company earned revenue of $646M and had a net profit of -$985M.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock.

Enable Midstream Partners LP owns, operates and develops strategically located natural gas and crude oil infrastructure assets. It operates through the following business segments: Gathering & Processing and Transportation & Storage. The Gathering and Processing segment provides natural gas gathering, processing, and fractionation services, as well as crude oil gathering services for its producer customers. The Transportation and Storage segment offers interstate and intrastate natural gas pipeline transportation and storage services to natural gas producers, utilities, and industrial customers. The company’s natural gas gathering and processing assets are located in the Anadarko, Arkoma, and Ark-La-Tex basins; and natural gas transportation and storage assets extend from western Oklahoma and the Texas Panhandle to Alabama and from Louisiana to Illinois. Enable Midstream Partners was founded in May 2013 and is headquartered in Oklahoma City, OK.