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Friday, January 21, 2022

The Rejuvenation of Enable Midstream Partners LP (ENBL)

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Many stocks have been testing new highs in 2020, and one of the most notable is Enable Midstream Partners LP (ENBL). Currently, ENBL is trading at $6.95 and the avg recommendation for the stock is Hold. while the current analyst price target stands at $5.56.

To add more color to this target, the company’s high over the last year is $14.48 and the low is $1.61. Over the last 52 weeks, ENBL is down -52.00% while the S&P 500 is up 1.21%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ENBL reported a profit of $146.0 million. Enable Midstream Partners LP also saw revenues increase to $648.0 million. In addition, ENBL has free cash flow of $146.0 million as of 03-2020 The company’s EBITDA came in at $250.0 million which compares well with its peers.

ENBL booked profit margins of 12.40%, its Return on Equity (ROE) is 5.00%, and its Return on Assets is 2.80%. All told, it is clear that, ENBL needs to be on your watchlist.

About Enable Midstream Partners LP

If readers are unfamiliar, Enable Midstream Partners, LP owns, operates, and develops midstream energy infrastructure assets in the United States. The company operates in two segments, Gathering and Processing; and Transportation and Storage. The Gathering and Processing segment provides natural gas gathering, processing, and fractionation services in the Anadarko, Arkoma, and Ark-La-Tex basins, as well as crude oil gathering services in the Bakken Shale formation of the Williston Basin 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 Oklahoma, Texas, Arkansas, and Louisiana; crude oil gathering assets are located in North Dakota; and natural gas transportation and storage assets extend from western Oklahoma and the Texas Panhandle to Louisiana, from Louisiana to Illinois, in Oklahoma, and from Louisiana to Alabama. As of December 31, 2018, its portfolio of midstream energy infrastructure assets included approximately 13,900 miles of gathering pipelines; 15 processing plants with 2.6 billion cubic feet per day of processing capacity; approximately 7,800 miles of interstate pipelines; approximately 2,300 miles of intrastate pipelines; and 8 natural gas storage facilities with 84.5 billion cubic feet of storage capacity. The company was founded in 2013 and is based in Oklahoma City, Oklahoma. Enable Midstream Partners, LP operates as a subsidiary of Centerpoint Energy Resources Corp.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ENBL has a short ratio of 0.74 and outstanding shares of 437.00M.

Company Outlook

ENBL has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.39 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.74. Enable Midstream Partners LP ENBL also noted assets of $12.12 billion at the end of the last quarter. Investors should also keep an eye on sector updates as ENBL has historically followed its peers on positive news.

All told, Enable Midstream Partners LP ENBL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ENBL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Enable Midstream Partners LP ENBL is now commanding a market cap of 2.42B and a float of 88.88M. ENBL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ENBL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ENBL, either long or short, and we have not been compensated for this article.

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