Markets

Energy Sector Update for 11/05/2015: ENBL,IO,ENOC

Top Energy Stocks

XOM -1.34%

CVX -2.13%

COP -0.04%

SLB -1.94%

OXY -0.11%

Energy stocks were finishing in a deep hole today, with the NYSE Energy Sector Index dropping almost 1.1% while shares of energy companies in the S&P 500 were down about 0.6% as a group.

In company news, Enable Midstream Partners ( ENBL ) fell to a record low on Thursday after analysts at RBC Capital Markets cut their price target for the pipeline company by $3 to $13 per unit while keeping a Sector Perform rating for the stock.

The move follows Enable earlier this week reporting a Q3 net loss of $985 million, reversing a $139 million profit during the same quarter last year.

ENBL equity units were down nearly 4% at $11.16 apiece, maintaining only a small margin above their worst-ever $10.71 per unit.

In other sector news,

(+) IO, Excluding one-time items, reported adjusted Q3 net loss of $0.10 per share, of $0.11 smaller than the Capital IQ consensus. Revenue falls 37.4% year over year to $66.67 mln, easily topping the $37.45 mln consensus.

(-) ENOC, Non-GAAP Q3 EPS of $0.74 misses Street view by $0.16 per share. Revenue falls 34.0% to $217.3 mln, also lagging the $232.18 mln consensus. Projected Q4 revenue of $50 mln to $60 mln, trailing analyst estimates by at least $5.9 mln.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ENBL

Other Topics

Commodities

Latest Markets Videos