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How Is Enable Midstream Partners Placed for 2017?

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How Is Enable Midstream Partners Placed for 2017? PART 1 OF 12

Enable Midstream Partners Has Rallied 80% in 2016: What’s Next?

Enable Midstream Partners’ market performance

Enable Midstream Partners (ENBL) provides natural gas gathering, processing, transportation, and crude oil gathering services. It has risen 80.0% YTD (year-to-date) after touching its multiyear lows at the beginning of 2016.

ENBL is one of the leading gainers among MLPs. However, the company is still trading 31.1% lower than the level before the rout in energy prices.

Enable Midstream Partners Has Rallied 80% in 2016: What’s Next?

Enable Midstream Partners Has Rallied 80% in 2016: What’s Next?

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ENBL’s peers Crestwood Equity Partners (CEQP), EnLink Midstream Partners (ENLK), and Western Gas Partners (WES) have risen 7.1%, 4.9%, and 22.2%, respectively, in 2016.

The Alerian MLP ETF (AMLP), which is comprised of 26 midstream energy MLPs, has risen 2.1%. ENBL has outperformed AMLP by 77.9% YTD (year-to-date).

A look at ENBL’s moving averages

Enable Midstream Partners is currently trading 7.9% above its 50-day moving average and 34.4% above its 200-day moving average. The 50-day moving average surpassed the 200-day moving average in May, indicating a bullish trend in ENBL stock.

Enable Midstream’s 3Q16 earnings

Enable Midstream Partners’ 3Q16 adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) rose to $244.0 million from $222.0 million in 3Q15. That was a YoY (year-over-year) rise of 10.0%.

In the next part of this series, we’ll look at ENBL’s recent segmental operating performance. The company expects to achieve the higher end of its previously announced 2016 adjusted EBITDA guidance of $780.0 million–$840.0 million.

ENBL announced its 2017 financial guidance in its 3Q16 earnings release. It expects 2017 adjusted EBITDA to be $825.0 million–$885.0 million.

In this series, we’ll look at ENBL’s current balance position and cash flow measures. We’ll also analyze ENBL’s financial statements and look at its valuations, key performance indicators, commodity price exposure, and analyst projections.

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