NYSE:ENBL

Stock Analysis Report

Enable Midstream Partners

Executive Summary

Enable Midstream Partners, LP owns, operates, and develops midstream energy infrastructure assets in the United States.

Snowflake


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Share Price & News

How has Enable Midstream Partners's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.2%

ENBL

-1.8%

US Oil and Gas

0.4%

US Market


1 Year Return

-31.6%

ENBL

-21.8%

US Oil and Gas

6.9%

US Market

Return vs Industry: ENBL underperformed the US Oil and Gas industry which returned -21.8% over the past year.

Return vs Market: ENBL underperformed the US Market which returned 6.9% over the past year.


Shareholder returns

ENBLIndustryMarket
7 Day-1.2%-1.8%0.4%
30 Day-14.9%-6.6%-1.2%
90 Day-23.5%-9.2%-0.4%
1 Year-25.1%-31.6%-18.9%-21.8%9.3%6.9%
3 Year-8.5%-29.1%-8.3%-16.5%45.8%36.4%
5 Year-31.3%-55.9%-24.8%-35.3%62.9%45.1%

Price Volatility Vs. Market

How volatile is Enable Midstream Partners's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Enable Midstream Partners undervalued compared to its fair value and its price relative to the market?

4.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: ENBL ($10.77) is trading below our estimate of fair value ($11.32)

Significantly Undervalued: ENBL is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ENBL is good value based on its PE Ratio (9x) compared to the Oil and Gas industry average (9.8x).

PE vs Market: ENBL is good value based on its PE Ratio (9x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

Low PEG Ratio: ENBL is poor value based on its PEG Ratio (2.6x)


Price to Book Ratio

PB vs Industry: ENBL is good value based on its PB Ratio (0.7x) compared to the US Oil and Gas industry average (0.9x).

Future Growth

How is Enable Midstream Partners forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

3.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ENBL's forecast earnings growth (3.5% per year) is above the savings rate (2.7%).

Earnings vs Market: ENBL's earnings (3.5% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: ENBL's earnings are forecast to grow, but not significantly.

Revenue vs Market: ENBL's revenue (6.8% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: ENBL's revenue (6.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: ENBL's Return on Equity is forecast to be low in 3 years time (6.1%).

Past Performance

How has Enable Midstream Partners performed over the past 5 years?

15.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ENBL's earnings have grown by 15.9% per year over the past 5 years.

Accelerating Growth: ENBL's earnings growth over the past year (32.5%) exceeds its 5-year average (15.9% per year).

Earnings vs Industry: ENBL earnings growth over the past year (32.5%) exceeded the Oil and Gas industry 22.6%.


Return on Equity

High ROE: ENBL's Return on Equity (7.4%) is considered low.


Return on Assets

ROA vs Industry: ENBL's Return on Assets is below or equal to the Oil and Gas industry average last year.


Return on Capital Employed

ROCE Improving: ENBL has significantly improved its Return on Capital Employed over the past 3 years.

Financial Health

How is Enable Midstream Partners's financial position?


Financial Position Analysis

Short Term Liabilities: ENBL's short term assets ($376.0M) do not cover its short term liabilities ($1.3B)

Long Term Liabilities: ENBL's short term assets (376.0M) do not cover its long term liabilities (3.6B)


Debt to Equity History and Analysis

Debt Level: ENBL's debt to equity ratio (58.3%) is considered high

Reducing Debt: ENBL's debt to equity ratio has increased from 28.3% to 58.3% over the past 5 years.

Debt Coverage: ENBL's debt is well covered by operating cash flow (21.5%).

Interest Coverage: ENBL's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet

Inventory Level: ENBL has a high level of physical assets or inventory.

Debt Coverage by Assets: ENBL's debt is not covered by short term assets (assets are 0.1x debt).

Dividend

What is Enable Midstream Partners's current dividend yield, its reliability and sustainability?

12.27%

Current Dividend Yield


Dividend Yield vs Market

company12.3%marketbottom25%1.4%markettop25%3.7%industryaverage4.2%forecastin3Years12.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: ENBL's dividend (12.27%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: ENBL's dividend (12.27%) is in the top 25% of dividend payers in the US market (3.73%)

Stable Dividend: Whilst dividend payments have been stable, ENBL has been paying a dividend for less than 10 years.

Growing Dividend: ENBL's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (107%), ENBL's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ENBL's dividends in 3 years are not forecast to be well covered by earnings (131.3% payout ratio).

Management

What is the CEO of Enable Midstream Partners's salary, the management and board of directors tenure and is there insider trading?

3.8yrs

Average management tenure


CEO

Rod Sailor (61yo)

3.8yrs

Tenure

US$4,500,812

Compensation

Mr. Rodney J. Sailor, also known as Rod, has been the Chief Executive Officer and President of Enable GP, LLC, general partner of enable midstream partners, LP since January 1, 2016 and also been its Direc ...


CEO Compensation Analysis

Compensation vs. Market: Rod's total compensation ($USD4.50M) is about average for companies of similar size in the US market ($USD5.10M).

Compensation vs Earnings: Rod's compensation has been consistent with company performance over the past year.


Management Age and Tenure

3.8yrs

Average Tenure

54yo

Average Age

Experienced Management: ENBL's management team is considered experienced (3.8 years average tenure).


Board Age and Tenure

4.1yrs

Average Tenure

57.5yo

Average Age

Experienced Board: ENBL's board of directors are considered experienced (4.1 years average tenure).


Insider Trading

Insider Buying: ENBL insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$92,02513 Aug 19
Scott Prochazka
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares7,500
Max PriceUS$12.27
BuyUS$30,65612 Aug 19
Robert Trauschke
EntityIndividual
Role
Member of the Board of Directors
Director
Shares2,500
Max PriceUS$12.26
SellUS$592,76207 Mar 19
Thomas Levescy
EntityIndividual
Role
Chief Accounting Officer
Senior VP
Shares40,000
Max PriceUS$14.91
BuyUS$15,06027 Feb 19
Peter Kind
EntityIndividual
Role
Member of the Board of Directors
Director of Enable GP LLC
Shares1,000
Max PriceUS$15.06

Ownership Breakdown


Management Team

  • John Laws (44yo)

    Executive VP

    • Tenure: 3.8yrs
    • Compensation: US$1.81m
  • Rod Sailor (61yo)

    President

    • Tenure: 3.8yrs
    • Compensation: US$4.50m
  • Vlad Klenikov

    Senior Vice President of Corporate Development & Finance

    • Tenure: 1.8yrs
  • Tina Faraca

    Senior Vice President of Commercial of Enable GP

    • Tenure: 0yrs
  • Tom Levescy (50yo)

    Senior VP

    • Tenure: 6.3yrs
  • Mark Schroeder (63yo)

    Executive VP

    • Tenure: 6.3yrs
    • Compensation: US$1.38m
  • Craig Harris (54yo)

    Executive VP & COO of Enable GP LLC

    • Tenure: 0.8yrs
    • Compensation: US$1.55m
  • Deanna Farmer (54yo)

    Executive VP & Chief Administrative Officer of Enable GP LLC

    • Tenure: 5.1yrs
    • Compensation: US$1.38m
  • Matt Beasley

    Senior Director

    • Tenure: 0yrs
  • Frank Antoine

    Senior Vice President of Field Operations of Enable GP

    • Tenure: 0yrs

Board Members

  • Ronnie Irani (63yo)

    Director of Enable GP LLC

    • Tenure: 3.6yrs
    • Compensation: US$166.35k
  • Steve Merrill (54yo)

    Director of Enable GP LLC

    • Tenure: 3.7yrs
    • Compensation: US$664.93k
  • Alan Harris (65yo)

    Director of Enable GP LLC

    • Tenure: 4.7yrs
    • Compensation: US$178.85k
  • Robert Trauschke (52yo)

    Director

    • Tenure: 6.4yrs
  • Peter Kind (62yo)

    Director of Enable GP LLC

    • Tenure: 5.7yrs
    • Compensation: US$181.35k
  • Scott Prochazka (53yo)

    Chairman of the Board

    • Tenure: 4.4yrs
  • Rod Sailor (61yo)

    President

    • Tenure: 3.8yrs
    • Compensation: US$4.50m
  • Xia Liu (49yo)

    Director

    • Tenure: 0.5yrs

Company Information

Enable Midstream Partners, LP's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Enable Midstream Partners, LP
  • Ticker: ENBL
  • Exchange: NYSE
  • Founded: 2013
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$4.686b
  • Shares outstanding: 435.11m
  • Website: https://www.enablemidstream.com

Number of Employees


Location

  • Enable Midstream Partners, LP
  • One Leadership Square
  • Suite 150
  • Oklahoma City
  • Oklahoma
  • 73102
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ENBLNYSE (New York Stock Exchange)YesCommon UnitsUSUSDApr 2014
18EDB (Deutsche Boerse AG)YesCommon UnitsDEEURApr 2014

Biography

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 an ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 00:32
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.