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A Look at Enable Midstream Partners’ 2017 Hedging Position

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Nov. 22 2016, Updated 10:04 a.m. ET

Enable Midstream’s hedging position

Enable Midstream Partners (ENBL) is exposed to natural gas and NGL (natural gas liquids) prices through its natural gas processing business. Having said that, hedging is an important metric to look at when you analyze ENBL’s risk and performance. ENBL has hedged 66.0%, 45.0%, and 51.0% of its 2017 natural gas, crude oil, and propane exposure, respectively.

Enable Midstream Partners believes that a 10.0% rise or fall in natural and ethane prices could impact its 2017 adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) by +/- $5.0 million. It believes that a 10.0% rise or fall in NGLs (excluding ethane) and condensate prices would result in a +/- $6.0 million change.

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