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Strategies & Market Trends : Value Investing

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To: bruwin who wrote (55770)	7/29/2015 12:11:38 PM
From: E_K_S	Read Replies (1) of 78750

Re: CNP Enable Midstream Partners, LP (ENBL) (Note: ENBL $6.4Bln market cap, stock -65% from 2014 highs) They have a separate Resource division that holds all their NG/Gathering and pipeline assets; CenterPoint Energy Resources Corp. Almost all of the pipeline companies and MLPs have sold off significantly in the last six months. This was one that always had good assets but I think it sold off along w/ the other NG pipeline companies. Their intrastate pipelines are valuable to a company like WMB and/or KMI. I could see some future deal where this division is sold/split out and/or merged/consolidated w/ one of the major pipeline players. Their 5% dividend and core utility/electric business is safe. Therefore, I would be buying this as the downside is small and risk/reward is positive (20% undervalued). Also, it is a better hold than an equivalent MLP. EKS

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