Enable Midstream Partners’ outstanding debt
In the previous part of this series, we looked at Enable Midstream Partners’ (ENBL) cash flow measures. In this part, we’ll analyze ENBL’s balance sheet position. The company ended 3Q16 with a total outstanding debt of $3.1 billion, which is $442.0 million higher than at the end of 2015.
Enable Midstream’s net debt-to-EBITDA
Enable Midstream Partners’ net debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) multiple was 3.8x at the end of 3Q16. That figure is higher than its average net debt-to-EBITDA multiple of 3.2x for the last ten quarters. However, the multiple is within industry standards. MLPs generally target a ratio of 4.0x–4.5x.