The stock of Enable Midstream Partners, LP (NYSE:ENBL) is now priced at $5.62 and the shares are -0.3 points down or -5.07% lower compared to its previous closing price of $5.92. The stock had 4.415 million contracts set over the past session. ENBL shares’ daily volume is compared to its average trading volume at 1.405 million shares. However, it has a float of 88.86 million and although its performance was -1.06% over the week, it’s one to watch. Analysts have given the ENBL stock a yearly average price target of $6.13 per share. It means the stock’s upside potential is 9.07% with the ENBL share price recently placing at $5.57 to $5.92. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are running away from the Enable Midstream Partners, LP stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ENBL shares have declined. Short interest in the stock represents just 4.7% of its float, but the volume has dropped by 0.
In the last trading session, Enable Midstream Partners, LP (NYSE:ENBL) dropped by -$0.06 over the week and gained $0.92 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $12.99. The stock recorded its established 52-week high on 09/16/19.
Since 03/18/20, the stock has traded to a low of $1.61 at 249.07%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.67. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Enable Midstream Partners, LP’s two-week RSI is 53.92. This suggests that the stock is neutral at the moment and that ENBL shares’ price movement remains stable. The stochastic readings are equally revealing at 63.82% meaning the ENBL share price is currently in neutral territory.
The technical chart shows that the ENBL stock will likely settle at between $5.84 and $6.05 per share. However, if the stock dips below $5.49, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.35.
Currently, the stock is trading in the green of MACD, with a reading of 0.16. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Wolfe Research raised their recommendation for ENBL from Peer Perform to Outperform in August 06 review. R. F. Lafferty analysts downgraded their recommendation of the stock from Buy to Hold while keeping its target price at $3 in a flash note released to investors on May 06. Wells Fargo seeing the stock struggling downgraded it from Overweight to Equal Weight on April 14 placing it at $6.
The average rating for the ENBL equity is 3 and is currently gathering a bullish momentum. Of 9 analysts tracking Enable Midstream Partners, LP polled by Reuters, 6 rated ENBL as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ENBL stock price is 9.81X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 9.4 below the group’s average of 40.1. Enable Midstream Partners, LP has its P/E ratio at 0.3, which means that the stock is currently trading at a discount relative to the 1.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Enable Midstream Partners, LP (NYSE:ENBL) will decrease by about -99.86%, which will see them reach $711 million. The company’s full-year revenues are, however, expected to diminish by about -13.18%, down from $2960 million to $2570 million. ENBL’s expected adjusted earnings should drop almost -53.57% to end up at $0.13 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -43.14% to record $0.58/share.