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Enable Midstream Partners, LP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2021 10-Q, filed Nov 1, 2021. Its latest SEC filing is a EFFECT from Dec 30, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides natural gas gathering and processing, oilfield gathering, and natural gas pipeline and storage services to producers, refiners and energy users.

How Did They Make Money?

Customers are billed monthly for completed gathering, processing, transportation and storage services. The partnership also buys and resells natural gas and liquids, with sales billed based on delivered volumes and contract prices.

revenue

Who Were Their Customers?

Producer customers use its gathering and processing services; refiners also use its oilfield gathering assets. Pipeline and storage customers include producers, power plants, local gas utilities and industrial users.

Customers above 10% of revenue, FY2020
of revenue from one customer
FY2019: 11% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in .

Operating income,
19% of revenue
▼ −18% vs ($569M, 19%)
Net income,
4% of revenue
▼ −78% vs ($396M, 13%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q3 FY2021, the three months to Sep 30, 2021
Revenue
▲ +60%
vs $596M in Q3 FY2020
Net income
▲ Now profitable
vs −$164M in Q3 FY2020
Natural Gas, Gathering, Transportation, Marketing and Processing share of revenue vs 53.0% in Q3 FY2020
  • Dec 3, 2021 Energy Transfer completed its acquisition of Enable Midstream Enable became a wholly owned subsidiary, and its common units stopped trading on the NYSE.

Grew. Revenue grew 8% in 4 years, from $2.3B in to $2.5B in , about 2% a year.

Revenue over time
Product Natural Gas, Gathering, Transportation, Marketing and Processing
$5B$2.5B$0

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