Will Enable Midstream Partners, LP (ENBL) Short Squeeze Soon? The Stock Formed a Double Top Chart Pattern

September 8, 2018 - By Jack Shaw

Enable Midstream Partners, LP (NYSE:ENBL) Logo

The chart of Enable Midstream Partners, LP (ENBL) shows a double top with $16.08 target or 4.00 % above today’s $15.46 share price. The 7 months chart pattern indicates low risk for the $6.70 billion company. It was reported on Sep, 8 by Finviz.com. If the $16.08 price target is reached, the company will be worth $267.80 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.06% or $0.01 during the last trading session, reaching $15.46. About 1.03 million shares traded or 18.01% up from the average. Enable Midstream Partners, LP (NYSE:ENBL) has declined 2.65% since September 8, 2017 and is downtrending. It has underperformed by 15.22% the S&P500.

Analysts await Enable Midstream Partners, LP (NYSE:ENBL) to report earnings on November, 7. They expect $0.25 EPS, up 4.17 % or $0.01 from last year’s $0.24 per share. ENBL’s profit will be $108.26 million for 15.46 P/E if the $0.25 EPS becomes a reality. After $0.20 actual EPS reported by Enable Midstream Partners, LP for the previous quarter, Wall Street now forecasts 25.00 % EPS growth.

Enable Midstream Partners, LP (NYSE:ENBL) Ratings Coverage

Among 5 analysts covering Enable Midstream Partners (NYSE:ENBL), 1 have Buy rating, 0 Sell and 4 Hold. Therefore 20% are positive. Enable Midstream Partners had 10 analyst reports since March 27, 2018 according to SRatingsIntel. The stock of Enable Midstream Partners, LP (NYSE:ENBL) has “Neutral” rating given on Monday, June 4 by Citigroup. The stock of Enable Midstream Partners, LP (NYSE:ENBL) has “Underweight” rating given on Tuesday, April 17 by Barclays Capital. Stifel Nicolaus maintained it with “Hold” rating and $18 target in Wednesday, June 6 report. Bank of America maintained the shares of ENBL in report on Tuesday, March 27 with “Buy” rating. Stifel Nicolaus maintained it with “Hold” rating and $19 target in Monday, August 6 report. Barclays Capital upgraded the shares of ENBL in report on Tuesday, June 12 to “Equal-Weight” rating. As per Friday, August 10, the company rating was maintained by Wells Fargo. Citigroup upgraded Enable Midstream Partners, LP (NYSE:ENBL) on Tuesday, March 27 to “Buy” rating. The stock of Enable Midstream Partners, LP (NYSE:ENBL) earned “Equal-Weight” rating by Barclays Capital on Wednesday, August 29. The stock of Enable Midstream Partners, LP (NYSE:ENBL) has “Market Perform” rating given on Thursday, May 17 by Wells Fargo.

Enable Midstream Partners, LP owns, operates, and develops midstream energy infrastructure assets in the United States. The company has market cap of $6.70 billion. It operates in two divisions, Gathering and Processing, and Transportation and Storage. It has a 17.05 P/E ratio. 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.

Enable Midstream Partners, LP (NYSE:ENBL) Ratings Chart

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