Enable Midstream Partners’ moving averages
Enable Midstream Partners (ENBL) has been trading below its 50-day and 200-day moving averages since June 2017, which may indicate a bearish sentiment towards ENBL stock. It was trading 1.3% below its 50-day average and 6.7% below its 200-day average as of September 13. In comparison, peers EnLink Midstream Partners (ENLK) and DCP Midstream (DCP) were trading 5.2% and 8.8% below their 200-day moving averages, respectively.
Short interest in Enable Midstream Partners
Short interest in Enable Midstream Partners was 1.1 million shares as of September 13, 2017, and its percentage of float ratio was 1.3%. Enable’s short interest is higher than its trailing-one-month average of 1.1% and trailing-12-month average of 0.7%.
Enable’s price forecast
ENBL’s 30-day implied volatility was 30.2% as of September 13, 2017. In comparison, the Alerian MLP ETF (AMLP) had implied volatility of 18.8%. ENBL’s higher implied volatility could be attributed to it having higher crude oil exposure than most AMLP constituents. Based on its current implied volatility, ENBL could trade at $14.07–$15.29 in the next seven days. ENBL is expected to trade in this range 68.0% of the time.