First Mercantile Trust Co. Reduces Stake in Enable Midstream Partners, LP (NYSE:ENBL)

First Mercantile Trust Co. decreased its position in Enable Midstream Partners, LP (NYSE:ENBL) by 23.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,648 shares of the pipeline company’s stock after selling 18,417 shares during the period. First Mercantile Trust Co.’s holdings in Enable Midstream Partners, were worth $983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Heritage Trust Co purchased a new position in Enable Midstream Partners, during the first quarter worth about $100,000. Miller Howard Investments Inc. NY purchased a new position in Enable Midstream Partners, during the first quarter worth about $180,000. Pointe Capital Management LLC purchased a new position in Enable Midstream Partners, during the first quarter worth about $198,000. BNP Paribas Arbitrage SA purchased a new position in Enable Midstream Partners, during the first quarter worth about $210,000. Finally, Proficio Capital Partners LLC purchased a new position in Enable Midstream Partners, during the first quarter worth about $215,000. Hedge funds and other institutional investors own 18.31% of the company’s stock.

Enable Midstream Partners, LP (NYSE:ENBL) opened at 14.76 on Friday. Enable Midstream Partners, LP has a one year low of $12.70 and a one year high of $17.36. The firm has a market capitalization of $6.38 billion, a PE ratio of 17.51 and a beta of 1.98. The company’s 50-day moving average price is $15.29 and its 200 day moving average price is $15.93.

Enable Midstream Partners, (NYSE:ENBL) last issued its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $626 million during the quarter, compared to analyst estimates of $644.27 million. Enable Midstream Partners, had a return on equity of 5.19% and a net margin of 15.20%. The firm’s revenue was up 18.3% on a year-over-year basis. On average, analysts forecast that Enable Midstream Partners, LP will post $0.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 22nd will be paid a dividend of $0.318 per share. This represents a $1.27 annualized dividend and a dividend yield of 8.62%. The ex-dividend date is Friday, August 18th. Enable Midstream Partners,’s dividend payout ratio is presently 147.68%.

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Several brokerages have weighed in on ENBL. BidaskClub downgraded Enable Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Enable Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Wednesday. TheStreet upgraded Enable Midstream Partners, from a “c” rating to a “b-” rating in a research note on Monday, June 5th. Royal Bank Of Canada reiterated a “hold” rating and issued a $18.00 target price on shares of Enable Midstream Partners, in a research note on Tuesday, June 6th. Finally, Credit Suisse Group upgraded Enable Midstream Partners, from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $20.00 in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.91.

In other news, major shareholder Arclight Capital Partners, Llc sold 34,202 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $16.18, for a total transaction of $553,388.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 157,258 shares of company stock valued at $2,549,596.

About Enable Midstream Partners,

Enable Midstream Partners LP owns, operates and develops midstream energy infrastructure assets strategically located to serve its customers. The Company operates in two business segments: Gathering and Processing, and Transportation and Storage. Its gathering and processing segment primarily provides natural gas and crude oil gathering and natural gas processing services to its producer customers.

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Institutional Ownership by Quarter for Enable Midstream Partners, (NYSE:ENBL)

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