In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Enable Midstream Partners Lp (NYSE:ENBL) reported that Centerpoint Energy Inc has picked up 233,856,623 of common stock as of 2017-08-04.
The acquisition brings the aggregate amount owned by Centerpoint Energy Inc to a total of 233,856,623 representing a Approximately 54.1% in the company.
For those not familiar with the company, Enable Midstream Partners LP owns, operates and develops midstream energy infrastructure assets strategically located to serve its customers. The Company operates in two business segments: Gathering and Processing, and Transportation and Storage. Its gathering and processing segment primarily provides natural gas and crude oil gathering and natural gas processing services to its producer customers. Its transportation and storage segment provides interstate and intrastate natural gas pipeline transportation and storage services primarily to its producer, power plant, Local distribution company (LDC) and industrial end user customers. As of December 31, 2016, the Company owned and operated natural gas and crude oil gathering and natural gas processing assets in five states. As of December 31, 2016, the Company owned and operated interstate and intrastate transportation and storage systems across nine states.
A glance at Enable Midstream Partners Lp (NYSE:ENBL)’s key stats reveals a current market capitalization of 6.62B based on 224.70M shares outstanding and a price at last close of $15.31 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2016-03-03, Delaney picked up 2,000 at a purchase price of $$6.65 per share.This brings their total holding to 36,000 as of the date of the filing.
On the sell side, the most recent transaction saw Arclight unload 4,000 shares at a sale price of $16.00. This brings their total holding to 43,238,773.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Enable Midstream Partners Lp (NYSE:ENBL) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.